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Walmart land deal finalized

Retailer coming to south Forsyth

POSTED: June 21, 2013 12:26 a.m.
 

Walmart has closed on the land where it plans to build a new supercenter in south Forsyth.

Representatives of CBRE Brokers sold the 24-acre site, which is at Peachtree and Mathis Airport parkways, to the retailer.

According to the firm, the property will become home to a 177,000-square-foot Walmart that likely will open sometime in 2014.

Located near established retailers such as Target, Sears and Home Depot, the new Walmart is expected to create some 250 jobs in the area.

The sale marks the latest step in the development process, which has taken its share of turns.

Members of Smart Growth Forsyth and the nearby Laurel Springs Homeowners Association objected to a December 2012 decision by Forsyth County to issue a site development permit for the retailer.

However, in May the two resident organizations dropped their appeal, which contended the county had unnecessarily waived requirements of the Peachtree Parkway Overlay.

Scott McGregor, executive vice president of CBRE Brokers, said in a statement that he was pleased the deal was complete.

“We had to overcome numerous hurdles to get this deal to closing, from zoning, DOT approvals, appeals of permits, etc.,” he said. “But ultimately Walmart got the best site in the submarket that will create hundreds of new jobs.”

County Commissioner Brian Tam, who represents the district in which the site is located, said the permitting process for the site was “very contentious.”

“The site is the site that the community supported back in 2006 and it’s the best alternative we had to work with,” he said. “I think it’ll offer the residents down there yet another place to shop … [and] bringing jobs to the community is a good thing.”

In 2006, Walmart sought to build a store on a site less than a mile south, at Peachtree and Laurel Springs parkways. That plan was met with resident opposition, causing the county to rezone the site at Peachtree and Mathis Airport as an alternative.

According to a news release, CBRE retained three outparcels at the Peachtree site, which are planned for retailers and restaurants. The outparcels are located at the new signal entrance.

 

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