Wal-Mart Stores (Bentonville, Ark.) has purchased a portion of land in Fort Wright, Ky., with plans to build a new Super Center in a proposed retail development.
It would be one of the first Wal-Mart Super Centers in the Greater Cincinnati area.
The world's larges retailer also announced plans to expand its 127,000-square-foot store at West Manchester Mall (York, Pa.) into a 206,000-square-foot Super Center.
Wal-Mart's expansion will occur primarily into existing mall shop and common area space. Construction is expected to begin next quarter and should be completed by mid-2004. Wal-Mart's lease expires in late 2014 with 10 five-year renewal options.
In connection with the expansion, Hecht's, a division of The May Department Stores Co. (St. Louis) — which built and owns its anchor store at this mall — executed a five-year extension of its operating covenant, which will now expire in late 2007.