Walmart Realty, a subsidiary of Walmart, has purchased a large-scale cold-storage and distribution facility in Riverside for $223 million. The property, located at 1001 Columbia Ave., spans 507,000 square feet and has long served as a key node in Walmart’s temperature-controlled logistics network.
Walmart has occupied the facility under a lease since 2010 and will continue to operate it for temperature-controlled distribution following the acquisition. The move converts Walmart’s role at the property from tenant to owner-occupier, formalizing a long-term commitment to the site.
The buyer was represented in the transaction by a JLL capital markets team that included Scott Coyle, Peter McWilliams and Tim O’Rourke. The group advised Walmart Realty through the acquisition process and coordinated with internal and external stakeholders to complete the deal. Within Walmart, senior manager of industrial real estate Jomar Benoit played an important role in advancing and finalizing the transaction.
On the sell side, State Street Corporation disposed of the asset, with Eastdil Secured representing the seller. The involvement of both JLL and Eastdil Secured underscores the institutional profile of the property and the importance of experienced brokerage teams in trading large-format cold-storage facilities.
Commenting on the acquisition, Coyle noted that Walmart’s decision to buy the building reflects the retailer’s ongoing commitment to this facility and its role in serving customers. He also pointed to broader market dynamics, observing that demand for temperature-controlled logistics space continues to exceed available supply across the greater Los Angeles basin.
According to Coyle, the transaction illustrates the irreplaceable nature of existing large-scale cold-storage assets and reinforces the Inland Empire’s position as a critical market within Southern California’s food distribution ecosystem. With elevated demand and limited new supply for specialized cold-storage product, existing facilities of this scale remain highly sought after by major occupiers.
The Columbia Avenue property benefits from regional connectivity, situated less than four miles from Interstate 215, California State Route 60 and California State Route 91. This proximity to multiple major transportation corridors supports efficient distribution throughout the greater Los Angeles basin and the broader Southern California region.
The acquisition adds to Walmart Realty’s portfolio of logistics and industrial properties and demonstrates the company’s continued focus on controlling strategic distribution infrastructure. For the Inland Empire, the deal highlights ongoing investor and occupier interest in well-located, specialized industrial assets that serve core supply-chain functions.
