A former Home Depot Landscape Supply location has been purchased by a division of Arlington, Texas-based Chesapeake Energy Corp. for $3.4 million, or approximately $276 per square foot, according to realty sales tracking service CoStar.
The 12,383-square-foot location, also in Arlington, Texas, includes an outdoor landscape area of 25,890 square feet.
Ram Realty Services of Palm Beach Gardens, Fla., purchased Home Depot’s former Landscape Supply stores in Texas and Georgia earlier this year, paying $22 million for the 11 sites. Home Depot shuttered the Landscape Supply stores in November 2007.
Ram Realty said at that time it would determine on a case-by-case basis which of the Landscape Supply stores would be redeveloped, and which would be sold to “strategic users” like Chesapeake Energy.
Chesapeake Energy has not made an announcement of how it plans to develop the site.