Walmart’s development of a movie studio and website in Georgia
Posted On June 12, 2021
A developer of a video game studio is looking to expand the Georgia footprint by acquiring a large swath of land along Interstate 65.
The deal is for about 6,000 acres, which includes about 2,000 homes and businesses.
Walmart will pay $250 million for the property.
Walmart announced it was in talks with developer and owner Steve Miller last month about a possible acquisition of the property that would make it the largest contiguous piece of undeveloped real estate in the United States.
The company is also in discussions with the Georgia Department of Economic Development and the city of Augusta to buy the property, which is near Interstate 65, said a Walmart spokeswoman.
Miller told The Atlanta Journal-Constitution that he has been working with Walmart since late 2015 to explore ways to help develop the property for the company, which he described as a family business with an extensive network of stores.
He has been trying to develop the site for at least two years, and has been waiting for a project agreement to be signed with Walmart to begin construction, Miller said.
The property is not a Walmart property.
It is part of the company’s Georgia retail footprint, Miller added.
The purchase price is not yet known, and Walmart is expected to pay roughly $250 per acre.
The land was designated as part of a new highway and an interstate highway plan in the Atlanta area.