Posted February 13, 2019 09:33:52Walmart has bought Pemburn Lake Mall in South Palm Beach for $2.9 billion, the largest private investment in the country by a private company.
The purchase includes about 2,400 full-time jobs and more than 300 permanent positions.
Walmart also bought the existing Southpark mall in North Miami for $1.4 billion, making it the largest mall in South America.
The Pembrook Lakes Mall is located at a busy intersection of Interstate 75 and I-95.
It is the largest single acquisition by Walmart in Florida, surpassing the $1 billion it paid for the former North Miami Beach Mall, which is currently under construction.
Wal-Mart has a long history in South Beach.
It opened the largest Walmart store in the world in South Broward, Fla., in 1984.
The company has also opened several other malls in South Miami and North Miami.
The mall will open this summer with a new design and new features, and will offer more than 1,600 full-service restaurants and 150 full-size shops.
It will also include a new shopping center and entertainment center, according to the company.
In addition to Pembrick Lake, Walmart will also invest $200 million in the existing Concord Mills Mall in North Palm Beach.