The Walmart Neighborhood Market in New Iberia on 1201 Parkview Drive.

In May, the second Aldi’s in all of Louisiana was opened in New Iberia on East Admiral Drive.

This week, a current New Iberia supermarket’s future was solidified with an $84 million investment by the California-based nationwide commercial real estate brokerage, JRW Realty.

The Walmart will remain open, in the same place, same management and with the same name. The commercial purchase is a feather in the cap of the real estate marked in New Iberia.

JRW Realty announced the 43,000-square-foot Walmart Neighborhood Market on 1201 Parkview Drive was part of the $84 million investment by their client and the purchases has a single-tenant net leases in place in New Iberia with the price between $11.8 million and $16.5 million.

New Iberia is part of six Walmart Neighborhood Market’s in Louisiana in the $84 million investment.

JRW Realty officials said the six stores are located in Meraux, Houma, Prairieville, New Iberia, Opelousas, and Thibodaux. The total square footage of the six stores is 257,427.

JRW Realty’s Jennifer Rodriguez Ventura facilitated the deal on behalf of an institutional buyer with a demand for specific net-leased properties. JLL’s Alex Sharrin represented the seller in the transaction.

“Jennifer worked diligently to bring this transaction to fruition,” JRW Realty’s president of single-tenant net lease Melinda Marston said in a statement. “We always seek the right kinds of properties for our clients’ private real estate investment firms. As they have solid backing and resources, they are actively engaging in deals of this size and higher.”

According to Walmart, the Walmart Neighborhood Markets were designed in 1998 as a smaller-footprint option for communities in need of a pharmacy, affordable groceries, and merchandise.

Each location employs up to 95 associates.

“Our clients have specific criteria for purchasing real estate,” Marston said. “One such criteria is net-leased properties tenanted by creditworthy clients. These Walmart Neighborhood Markets fit that description as well as anything could, and we are delighted to have been able to bring this deal to our clients and to help them complete a successful closing.”

JRW Realty is a commercial real estate brokerage firm that has closed on more than 900 properties valued at more than $3.6 billion on behalf of its clients. In a release, JRW Realty said their team places special focus on due diligence, reviewing over 100 properties each week and only choosing to source for clients the best three-to-four percent, according to their rigorous acquisition criteria.