SALT LAKE CITY — Cushman & Wakefield announced the firm has represented Walmart Inc., a people-led, tech-powered omnichannel retailer, in acquiring a 1,032,248-square-foot Class A distribution building on nearly ±60 acres in Salt Lake City, Utah. Walmart Fulfillment Services was previously leasing the entire property located at 990 North 6550 West on a long-term basis prior to the sale.
Commonly known as the Salt Lake City Global Logistics Center, the property comprises a state-of-the-art crossdock industrial building with excellent circulation, immediate freeway access, 40’ clear height and sits directly west of the SLC International Airport. Located in the fast-growing Airport submarket, the facility recently completed construction in 2022.
Ed Lampitt, Will Strong, Jeff Chiate, and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented Walmart in the sale.
“We are thrilled to have represented Walmart, considered the largest retailer in the world by many shopping sources, in purchasing this high-quality real estate asset that serves as one of the company’s key fulfillment centers,” said Ed Lampitt, Vice Chair.
“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,” added Jeff Chiate.
The location of Walmart’s fulfillment center provides access to Greater Salt Lake’s strong workforce and strategic access to Interstate 80. The project is also near the renovated Salt Lake City International Airport—currently undergoing a multibillion-dollar phased expansion anticipated for full completion by 2027—and Union Pacific Intermodal Hub.
“The property is ideally situated along the I-80 corridor in the heart of Salt Lake City’s Northwest Quadrant, the largest and most sought-after industrial submarket in Utah. The location is a half-day’s drive to reach ±63 million people, including most of the Western US and all its major ports, and within a day’s drive of nearly ±150 million people, or 45% of the US population,” said Will Strong, Executive Vice Chair.
According to Cushman & Wakefield’s latest Q1 2025 market report, overall industrial vacancy in Salt Lake City remains very healthy at 6.6%. The SLC industrial market saw a surge in leasing activity with 2.2 million square feet (MSF) of new deals signed (excluding renewals), with most stemming from the North West submarket with 1.98 MSF. New leasing activity in SLC is already well ahead of the annual pace of 2024, which reported roughly 5 MSF of new leasing activity all year. Notably, 2024 also recorded a robust nearly 3.7 MSF of industrial occupancy growth, with the lion’s share of over 3 MSF stemming from the North West submarket.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.
About Walmart
Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better — anytime and anywhere — in stores, online, and through their mobile devices. Each week, approximately 270 million customers and members visit more than 10,750 stores and numerous eCommerce websites in 19 countries. With fiscal year 2025 revenue of $681 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.