Why Walmart wants to transform acres of store parking lots into bustling town centers

The sprawling parking lot of a Walmart Supercenter. / Aerial Photography / Phoenix Business Journal

 

By Amy Wenk and Patrick O’Grady | Phoenix Business Journal

The nation’s largest retailer wants to redevelop some of its sprawling parking lots into bustling town centers.

Walmart Inc. (NYSE: WMT) is evaluating whether to transform underused land at its stores across the U.S. into new offerings such as restaurants, shops, food halls, parks, entertainment venues and more, said a top executive with Walmart during an Oct. 23 retail conference in Atlanta.

It’s a new concept called the “Walmart Town Center,” said LB Johnson, vice president of U.S. Realty Operations for Walmart, the keynote speaker at the 2018 International Council of Shopping Centers Southeast Conference & Deal Making.

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