OXFORD — Often old Wal-Mart buildings will stand vacant for years when the retail giant moves out to establish a Wal-Mart Supercenter nearby. But that won’t happen with the old Wal-Mart in Oxford Mall, located across the street from the main campus of the University of Mississippi (UM).
The UM Foundation has used $2.6 million in private funds to purchase the old Wal-Mart, which will be used to ease campus overcrowding after being renovated for use as classroom space and as a innovation and outreach center to enhance small business development.
The 92,000-square-foot building was one of two anchor stores in the 260,000-square-foot mall. The old Wal Mart had been vacant for about a year before its purchase by the UM Foundation. The building comes along with a parking lot and 7.7 acres of land that adjoin 5.7 acres of land already owned by the university.
“We saw this as a tremendous opportunity to provide much needed prime office and classroom space and parking for the university,” said UM Foundation president Don Frug