Private equity firm IRA Capital is looking to sell an intown Atlanta location of Sam’s Club in what would be a rare disposition of a store operated by the Walmart-owned retailer.
IRA Capital is asking $12.9 million for the 129,000-square-foot property at 2901 Clairmont Road, according to sales materials. Sam’s Club has a triple-net lease on the property with extension options that run through 2055. The Snyder Carlton national net lease team at Colliers is marketing the property for IRA Capital.
The potential sale comes as Sam’s Club is in expansion mode and is testing a new all-digital store format. Sam’s Club said last year that it planned to open more than 30 stores over the coming years, as well as five new distribution centers. The warehouse-club retailer expects to open a store this month in Grapevine, Texas, that will not have checkout lanes and will require shoppers use a smartphone app to check out.
No retail properties occupied by Sam's Club have sold over the past five years, according to CoStar data.
The Atlanta store listed for sale opened in 1999 and is the only Sam’s Club located inside the Interstate 285 perimeter freeway in Atlanta. Walmart operates 13 locations of Sam’s Club in metro Atlanta.
IRA Capital bought the Atlanta Sam’s Club in 2011 for $16.7 million from Triform LLC, according to CoStar data. IRA Capital, based in Irvine, California, did not immediately respond to a request for comment.
IRA’s U.S. real estate portfolio is focused on healthcare properties and includes UC Davis Midtown Clinic in Sacramento and a UCLA Health medical office building in Valencia, California. IRA Capital launched a $500 million healthcare real estate fund last year.
For the record
Jereme Snyder, Eric Carlton and Joseph Montgomery at Colliers are representing IRA Capital on the sale listing.