Walmart Acquires 507K SF Riverside Cold-Storage Facility for $223M

Walmart Realty, a subsidiary of the retail giant, has purchased a 507,000-square-foot cold-storage distribution facility in Riverside, Calif., for $223 million. The acquisition of the property at 1001 Columbia Avenue, which equates to approximately $440 per square foot, concludes a long-term lease arrangement that began in 2019. The seller was State Street Corporation.

The temperature-controlled asset features 42-foot clear height ceilings, 98 dock-high doors, 120 trailer stalls, 565 parking stalls, and 22,500 square feet of dedicated office space. Strategically located within four miles of Interstate 215 and State Routes 60 and 91, the facility serves as a critical node in Southern California’s grocery supply network.