BUSINESS : Wal-Mart Plans Industry Store
Wal-Mart has committed to building another of its huge discount stores in the San Gabriel Valley, this time in City of Industry.
The City of Industry redevelopment agency and Wal-Mart signed a development agreement this month that calls for the agency to buy an 11-acre site for about $7.5 million and resell it to Wal-Mart for about $5 million.
City officials are willing to make the $2.5-million “land write-down†in order to entice the retail giant to locate on a lot at the southwest corner of Azusa and Gale avenues, just north of the Pomona Freeway (60).
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