walmart  Turns out, the reason Alin’s Party Depot couldn’t renew its lease after 25 successful years in Downey was that Wal-Mart, Inc., had quietly bought the Paramount Blvd. property. And while Alin’s continues to liquidate its inventory, the largest retailer in the world is preparing to open one of its new, smaller-format Wal-Mart stores in the 32,000-square-foot building.

A fixture in Downey since 1985, Alin’s Party Depot announced in November that it would shut down early in 2011, unable to renew its lease with Westminster Properties. According to the Los Angeles County Registrar-Recorder’s office, Wal-Mart purchased the property, located at 12270 Paramount Blvd., on Nov. 10.

Two months ago, Wal-Mart U.S. President and CEO Bill Simon unveiled the company’s new strategy for the coming year, indicating the retail giant would focus on the coveted urban and suburban markets by opening smaller, more efficient Wal-Mart locations across the country.

“We are very excited about the additional growth opportunities that we have in the United States,” said Simon in a statement on Oct. 13. “Over the next few years, we will introduce new formats to help us enter new markets. Wal-Mart U.S. will move toward a three-format portfolio, which will drive expansion to urban markets and small towns, as well as fill in gaps in existing markets.”

Wal-Mart Stores Inc. currently operates more than 4,000 retail locations in the United States alone.

Officials at Alin’s Party Depot say the store will complete liquidation in early January.

CONTINUE READING THIS STORY BY CHRISTIAN BROWN IN THE DOWNEY PATRIOT