State Street Acquired by Walmart | Real Estate Services M&A Deal

Walmart has completed the acquisition of State Street, a real estate services other business in California, for $223 million. Walmart acquisitions focus on temperature-controlled logistics, and the Riverside, CA cold storage distribution facility spans about 507,000 square feet with 42-foot clear height, 98 dock doors, and trailer and parking capacity. State Street acquisition activity centered on owning and leasing the 1001 Columbia Avenue warehouse since 2010, supporting temperature-controlled distribution operations for Walmart. The divestiture acquisition is a strategic acquisition by a strategic buyer, with Walmart represented by JLL and State Street represented by Eastdil Secured, and the deal is announced with an over-$100M size.