Business

Wal-Mart in negotiations to open D.C. store

interns Contributor

Fresh off a deal with the City of Chicago that will allow Wal-Mart Stores to open more than a dozen locations there, the mega-retailer is closing in on an agreement to open its first store in D.C.

Wal-Mart is negotiating to open a store on New York Avenue NE near the intersection of Bladensburg Road, on a parcel owned by a family in the taxicab business, according to sources familiar with the negotiations.

The chain, which has expressed interest in opening a store in the city for years as part of its expansion into major urban markets, has not yet signed a lease but is expected to by this fall, the sources said. They spoke on the condition of anonymity because they were not authorized by the companies to discuss the details.

Wal-Mart, based in Bentonville, Ark., agreed to a deal with the Chicago City Council on June 30 that gives it the green light to open its second store there by 2012 and two dozen or more stores in the city in coming years. Spokesman Steven Restivo said the agreement exhibits the company's interest in building outlets in urban areas.

Full story: Wal-Mart in negotiations to open D.C. store