Walmart Inc. has acquired a greater than 1 million-square-foot Class A distribution heart on practically 60 acres in Salt Lake Metropolis after leasing the ability for greater than three years for its Walmart Achievement Companies division. The constructing is used to satisfy on-line orders made on Walmart.com.
Walmart has been the only real tenant at 990 N. 6550 W., situated throughout the SLC International Logistics Middle, because it was accomplished in 2022.
Managing Director Ed Lampitt, Government Vice Chairs Will Sturdy and Jeff Chiate and Director Matt Leupold of Cushman & Wakefield’s Nationwide Industrial Advisory Group represented Walmart within the deal.
The vendor wasn’t recognized however Wadsworth Growth Group of Draper, Utah, is listed as the newest proprietor, in line with CommercialEdge information. The property was secured by a $54.8 million building mortgage, originated in April 2021 by Zions Financial institution, the identical supply reveals.
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Wadsworth, in a three way partnership with Colmena Group and Stokes Companions, launched Section 1 of the industrial park in February 2018. Wadsworth acknowledged in a social media publish three years in the past that Walmart had signed a 15-year lease for the constructing. Upon buildout, the park may have 50 million sq. ft of business improvement throughout 3,000 acres. Section 1 contains 5.5 million sq. ft of area.
Constructing, market highlights
990 N. 6550 W. is a cross-dock constructing with a 40-foot clear top. It has 174 dock-high doorways and 4 grade-level doorways.
Positioned within the fast-growing Airport submarket, the property has rapid entry to Interstate 80 and is 10 minutes from each Interstate 15 and Salt Lake Metropolis’s central enterprise district. It’s situated 5 minutes from the Salt Lake Metropolis Worldwide Airport, which is present process a multibillion-dollar phased growth slated for completion by 2027. The property can be close to the Union Pacific Intermodal Hub.
The property is located alongside the I-80 hall within the coronary heart of Salt Lake Metropolis’s Northwest Quadrant, the most important and most sought-after industrial submarket in Utah. The situation is a half-day’s drive to achieve greater than 63 million folks, together with a lot of the Western U.S. and all its main ports. It’s inside a day’s drive of practically 150 million folks, or 45 p.c of the U.S. inhabitants.
The general industrial emptiness within the Salt Lake Metropolis space stays wholesome at 6.6 p.c, in line with Cushman & Wakefield’s market report for the primary quarter of 2025. The market had a surge in leasing exercise, with 2.2 million sq. ft of latest offers signed. New leasing exercise is already forward of 2024, which reported about 5 million sq. ft of latest offers all yr.
In December, ViaWest Group bought 5 South Commerce Middle, a 172,847-square-foot Class A single-tenant industrial property in Salt Lake Metropolis to STAG Industrial. Positioned at 3175 W. 500 S., the ability is near the airport and downtown Salt Lake Metropolis and has entry to interstates 215 and 80. Cushman & Wakefield represented the vendor within the deal.
Florida distribution deal
In April, Walmart opened a brand new distribution heart in Jacksonville, Fla., that can be a hub for the Southeast. Positioned at 1511 Zoo Parkway, the 1 million-square-foot facility will deal with gadgets for 18 Sam’s Membership places in Florida, South Carolina and Georgia, in addition to seven golf equipment in Puerto Rico. The location, which is 10 minutes from the Port of Jacksonville, additionally shops and kinds imported items for supply to 4 distribution facilities.
Salt Lake Metropolis shouldn’t be the one current acquisition for Walmart. In February, the retail large additionally acquired Monroeville Mall and its Annex in Monroeville, Pa., for $34 million from CBL Properties. The retail belongings totaled 1.2 million sq. ft.
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