Walmart has bought the Bethel Park Shopping Center for $39.6 million, reflecting its longstanding strategy of owning its stores and, often, surrounding properties.
Allegheny County property records show the 22-acre lot changed hands May 5. The previous owner, Texas-based commercial real estate firm Tabani Group, bought the center in 2023 for $31 million.
Walmart spokesman Mark Rickel told TribLive news partner WTAE the company’s Bethel Park store will continue to operate as usual, ruling out an expansion, at least for the time being.
The plaza’s main structure is split between Walmart and Giant Eagle. Pep Boys, Wendy’s, Firestone Complete Auto Care, Great Clips, Chase Bank, Rita’s Italian Ice and Chinese restaurant the Rice Inn occupy outparcels in the center.
It’s not unusual for the Arkansas-based retailer to purchase a property containing its stores. But Walmart’s real estate ambitions in the region have attracted greater attention after it purchased Monroeville Mall earlier this year for $34 million.
The acquisition marked Walmart’s first foray into mall ownership.
At the time, the company signaled interest in redeveloping the flagging mall, but did not release exact plans.
As of January, Walmart valued its land, building and equipment assets at about $120 billion, up from $111 billion a year earlier.
