---
title: "Walmart Pays $223M for SoCal Cold-Storage Facility"
url: https://burnaze.com/article/ede9fb1d-2440-4334-8364-6637bd5d4671
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/05/walmart-calif-cold-storage-state-street/
author: "Gregory Cornfield"
category: "Retail"
industry: "Retail"
published: 2026-05-28T19:30:24.000Z
modified: 2026-10-31T13:18:46.962Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/05/1001-Columbia-Ave-4.jpg?quality=80&w=1200
---

# Walmart Pays $223M for SoCal Cold-Storage Facility

**TL;DR:** Walmart has acquired a 507,000-square-foot cold-storage facility in Southern California for $223 million. The facility, located in the Inland Empire region, has been leased by Walmart since 2019 for its grocery and food distribution.

*By Gregory Cornfield, originally published in Commercial Observer on 2026-05-28. [Read the original](https://commercialobserver.com/2026/05/walmart-calif-cold-storage-state-street/).*

## Story

One of the world’s largest companies has acquired a building in Southern California that it uses for its grocery and food distribution in a deal that’s equal to roughly $440 a square foot.

**Walmart Realty**, a subsidiary of **Walmart**, put down $223 million for a 507,000-square-foot cold-storage facility in California’s Inland Empire region. **State Street Corporation** sold the temperature-controlled distribution property to the retailer.

Walmart has been leasing the development at **1001 Columbia Avenue** in Riverside since 2019. It sits less than four miles from Interstate 215, State Route 60 and State Route 91, and it features 42-foot clear height ceilings, 120 trailer stalls, 98 dock-high doors, 22,500 square feet of office space and 565 parking stalls.

**JLL**’s **Scott Coyle**, **Peter McWilliams** and **Tim O’Rourke** — along with **Jomar Benoit**, senior manager of Walmart’s industrial real estate — represented Walmart in the acquisition before announcing the deal Thursday. **Eastdil Secured** represented State Street.

JLL said the Inland Empire is the premier component in Southern California’s grocery supply network, and that demand for temperature-controlled logistics space continues to outpace supply.

“This transaction highlights the irreplaceable nature of existing large-format cold-storage facilities and reinforces the Inland Empire’s role as a key market for Southern California’s food distribution ecosystem,” Cole said in a statement.

McWilliams added that demand in the Inland Empire industrial market is expected to continue from a variety of users, including third-party logistics, retail and e-commerce firms.

“The limited speculative construction pipeline coupled with robust tenant demand should begin to positively impact net absorption, vacancy and availability over the coming quarters,” he added.

## Entities

- Real Estate (sector)
- Walmart (company)
- Commercial Observer (publication)
- JLL (company)
- Gregory Cornfield (person)
- Inland Empire (location)
- industrial real estate (topic)
- cold storage (topic)
- Easdil Secured (company)
- facility acquisition (topic)
- grocery distribution (topic)
- Walmart Realty (company)

---
Originally reported by Gregory Cornfield, Commercial Observer (https://commercialobserver.com/2026/05/walmart-calif-cold-storage-state-street/). Summarized by Burnaze (https://burnaze.com/article/ede9fb1d-2440-4334-8364-6637bd5d4671).