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1001 Columbia Avenue

Updated Mar 4, 2026

Doug McMillon Of Walmart Acquires Industrial Warehouse From Ronald P. O’Hanley For $111.5M
SOLDIndustrial

Doug McMillon Of Walmart Acquires Industrial Warehouse From Ronald P. O’Hanley For $111.5M

1001 Columbia Avenue

$111,500,000

$219/SF

Building Size

507,000 SF

Asset Type

Industrial

Closing

Mar 3, 2026

About this deal

AI

The sale involved a 507,000-square-foot industrial property located at 1001 Columbia Avenue in Riverside, California, covering an area of 25 acres. The transaction was completed at a sale price of $111,500,000, resulting in a price per square foot of $220. The property was previously owned by State Street Corporation and is situated near Interstate 215. It is also notable for being LEED-certified and is currently shared with a tenant, Lineage Logistics.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $111,500,000
  • Buyer: Doug McMillon - Walmart
  • Seller: Ronald P. O’Hanley - State Street
  • Asset Size: 507,000 square feet
  • Price per Square Foot: $220
  • Location: 1001 Columbia Avenue, Riverside, California
  • Acres: 25
  • Market: Riverside
  • Notable Tenant: Lineage Logistics
  • LEED Certification: Yes

Doug McMillon, representing Walmart, acquired the industrial property from Ronald P. O’Hanley of State Street Corporation. This acquisition reflects Walmart's strategy to expand its distribution network across the United States, emphasizing ownership of its logistics infrastructure.

On the Map

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$111,500,000

$219/SF

Industrial

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Players

Doug McMillon

Walmart

Buyer

$146.5M

vol

4 deals

Buyer

Ronald P. O’Hanley

State Street

Seller

$111.5M

vol

1 deal

Seller
Bilt advertisement

Riverside Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $219 per square foot on a published $111.5M for 507,000 square feet (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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