Cushman & Wakefield represented Walmart Inc. in acquiring a 1,032,248-square-foot distribution building on almost 60 acres in Salt Lake City, Utah.
Walmart Fulfillment Services previously was leasing the property at 990 North 6550 West on a long-term basis prior to the sale.
Commonly known as the Salt Lake City Global Logistics Center, the property comprises a crossdock industrial building with immediate freeway access, 40-foot clear height and sits west of the SLC International Airport. Located in the fast-growing airport submarket, the facility completed construction in 2022.
Ed Lampitt, Will Strong, Jeff Chiate and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented Walmart in the sale.
“We are thrilled to have represented Walmart, considered the largest retailer in the world by many shopping sources, in purchasing this high-quality real estate asset that serves as one of the company’s key fulfillment centers,” said Lampitt, vice chair.
Chiate added, “Walmart’s acquisition and commitment further reflects the continued positive sentiment momentum that occupiers and investors, alike, maintain for the strategically positioned Salt Lake City industrial market. The area also features many other large, leading global corporate brands across several industries.”
The location of Walmart’s fulfillment center provides access to Greater Salt Lake’s strong workforce and strategic access to Interstate 80. The project is also near the renovated Salt Lake City International Airport – undergoing a multibillion-dollar phased expansion anticipated for full completion by 2027 – and Union Pacific Intermodal Hub.
“The property is ideally situated along the I-80 corridor in the heart of Salt Lake City’s Northwest Quadrant, the largest and most sought-after industrial submarket in Utah. The location is a half-day’s drive to reach 63 million people, including most of the Western U.S. and all its major ports, and within a day’s drive of nearly 150 million people, or 45 percent of the U.S. population,” said Strong, executive vice chair.
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