How does walmart's inhouse real estate development team model/analyze projects?

Like the title says, Walmart has an inhouse real estate development team that chooses new locations to build more stores. How do you think their modeling/ analysis is structured? Considering that they will use 100% of the property for their own business and won't lease it out and have no intentions to sell.

Will this be done with a typical RE cash flow model, or is this more on the corporate strategy side and an NPV analysis?

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