The Real Deal Miami

Walmart pays $11 million for Oakland Park Kmart

June 13, 2012 12:00PM

A Kmart location in Oakland Park has been purchased by Walmart for $11 million, the Sun Sentinel reported. While Kmart has three more years on its current lease at the property, Walmart seems to be considering a potential store at the site, which is located at 670 East Oakland Park Boulevard. “We think our stores can be part of the solution for residents who need a job or want more affordable options close to home,” said Walmart spokesperson Steven Restivo. CBRE’s Russ Bornstein said Walmart’s desire for the land came from its lack of a “strong presence” in eastern Broward County. [Sun Sentinel]