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Wal-Mart Stores to open LI's first Sam's Club.

In a major sale transaction arranged by Wilrock National of Long Island, Wal-Mart Stores, Inc. has purchased a 19-acre tract of land in Medford to house Long Island's first Sam's Club.

The tract, which is located off exit 64 of the Long Island Expressway, was purchased from Feldman Properties for $7 million.

The location will house a 135,000-square-foot Sam's Club, the nation's largest wholesale club-. Currently, Wal-Mart Stores, Inc. operates 256 of the discount stores in 41 states, including two in New York State: one outside Albany and one, currently under construction, in Rockland County. Ground has been broken for the Medford facility, and construction is expected to be completed in June, 1993.

The $7 million sale was negotiated by Larry Holzman, director of Retail Leasing, who represented Wal-Mart Stores, Inc., and Marshall Schutzer, executive vice president, of Wilrock National of Long Island, who represented Feldman Properties.

According to Holzman the Sam's Club deal faced two tremendous obstacles. First, the Town of Brookhaven, in which Medford is located, attempted to change its zoning laws to eliminate all wholesale clubs due to pressure from local supermarkets. Luckily, the town voted not to rescind its zoning. Secondly, as building permits were being obtained, the New York State Supreme Court ruled against the Pine Barrens Association's lawsuit to prevent any further development in the Town of Brookhaven.
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Title Annotation:opens wholesale club in Long Island, New York, New York
Publication:Real Estate Weekly
Date:Feb 2, 1993
Words:225
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