Published on: 02/06/08
A Florida real estate development and acquisitions firm said Wednesday it has bought The Home Depot Inc.’s 11 Landscape Supply stores for $22 million.
Palm Beach Gardens, Fla.-based Ram Realty Services said in a statement that it is evaluating the portfolio to determine which of the sites will be sold and which will be redeveloped. The sale includes five stores in the Atlanta area and six in the Dallas area.
The sites range in size from 4.5 acres to 9 acres and contain a former Landscape Supply store building of about 12,000 square feet.
Atlanta-based Home Depot, the world’s largest home improvement store chain, said in September that it planned to close the Landscape Supply stores as part of its efforts to focus more resources on its core retail business. Home Depot’s first Landscape Supply store opened in 2002. The stores catered to professional landscapers, as well as the project-oriented do-it-yourselfer.
The stores included a greenhouse and sold products including interior plants, chemicals, pavers and irrigation supplies. They also offered landscaping tool rental.
Home Depot operates more than 2,000 retail stores in the United States, Canada, Mexico and China. Its shares were up 32 cents,or 1 percent, to $28.31 in afternoon trading.