Major global retailer Walmart has acquired the warehouse that houses its Walmart Fulfillment Services in the Northwest Quadrant of Salt Lake City.
The Class A distribution building and 60-acre site is part of the Salt Lake City Global Logistics Center. Walmart previously leased the building, which was built in 2022.
Ed Lampitt, Will Strong, Jeff Chiate and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented Walmart in the sale.
The property features a state-of-the-art crossdock industrial building with excellent traffic circulation, immediate freeway access, 40-foot clear height ceilings and sits directly west of the Salt Lake City International Airport.
“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,” said Chiate.
According to Cushman & Wakefield’s latest first-quarter market report, overall industrial vacancy in Salt Lake City remains very healthy at 6.6 percent. The SLC industrial market saw a surge in leasing activity with 2.2 million square feet of new deals in the quarter, with most stemming from the northwest submarket.
This distribution center continues Walmart’s large presence in Utah. The retailer employs almost 21,000 people in the state at its 59 retail units, three distribution centers and the Salt Lake City fulfillment center.