Walmart Development Set for Palm Beach County

Walmart has paid $11.7 million for development land by the western end of Palm Beach County, Fla., in the latest example of retailers taking greater control over their retail presence, property records show.

The vacant, 24-acre parcel at 5253 Seminole Pratt Whitney Road sits within Minto Communities’ Westlake master development. 

The 188,779-square-foot Walmart development will include a grocery store, a pharmacy, a garden center, an automotive center and a vision center as well as a 1,620-square-foot gas station and a convenience store. The Westlake City Council approved the plans in April. 

The 3,800-acre Westlake master-planned community is approved for 6,500 homes and 2.2 million square feet of commercial development, about half of which has been sold. The population of Westlake has grown to just over 9,000 last year, up from just 912 in 2020, according to the U.S. Census.  

“As Westlake reaches critical mass, the market is taking notice,” John Carter, senior vice president of Minto Communities USA, said in a statement. “We want to be selective as to what types of businesses come into the city, focusing on those that add real value for our residents.”

In January, Minto Communities sold a 10.6-acres site to Lowe’s for $7.5 million. The home improvement retailer will build a 107,547-square-foot store and a 26,601-square-foot outdoor garden center. The parcel, adjacent to Walmart’s new site, will also house the company’s regional headquarters. 

The acquisitions are part of a broader trend of retailers purchasing their store sites as higher interest rates curb competition from investors and companies look to hedge against rising rents.

Since 2023, Publix has spent more than $400 million buying out its landlords. In June, the grocer paid $24 million for a 71,191-square-foot, open-air retail center in Boynton Beach, where it operates a 46,031-square-foot store. 

A representative for Walmart did not immediately respond to a request for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com.