GILROY
– Wal-Mart has entered a contract to sell its 7900 Arroyo Circle
home in anticipation of moving into a larger store on Camino
Arroyo, company spokes-person Amy Hill said Tuesday.
GILROY – Wal-Mart has entered a contract to sell its 7900 Arroyo Circle home in anticipation of moving into a larger store on Camino Arroyo, company spokes-person Amy Hill said Tuesday.
Bill Lindsteadt, executive director of the Gilroy Economic Development Corp., said he spoke to the buyer Tuesday but also declined to identify him since the deal is not yet closed.
As for the price, the figure Lindsteadt said he heard mentioned was $6.5 million.
The buyer plans to lease the 67,200-square-foot building to one or more retailers, Lindsteadt said, with Trader Joe’s, Nordstrom Rack and Beverly’s Fabric and Craft Store as possible tenants.
Wal-Mart and the developer decided not to close the sale until after the Gilroy City Council decides whether to approve a proposed, 220,000-square-foot Wal-Mart Supercenter in the Pacheco Pass Center, Lindsteadt said.
