Walmart $152m Arizona Logistics Deal Signals Warehouse Boom
What Did Walmart Buy at Luke Field (Price, Size, $/SF)? A blockbuster industrial acquisition landed at Luke Field one day before Thanksgiving 2025. The off-market Walmart deal closed at $152,161,730, the highest Arizona industrial sale of 2025. The sale also ranks as the second-largest industrial building trade in Phoenix history. Luke Field is a 140-acre logistics park totaling 2.4 million square feet across three Class A buildings. Deal terms under pressure Walmart bought Building C, the largest structure in the Luke Field logistics park. The LEED Gold building totals 1,278,653 square feet and is fully occupied by Walmart. Price and valuation density The purchase equates to about $119 per square foot (roughly $120). That marks the highest per-unit industrial price in Arizona for 2025 and the second-highest in metro Phoenix history. Counterparties Lincoln Property Company and Goldman Sachs sold the asset, with Lincoln representing itself. JLL brokers Marc Hertzberg and John Lydon rep...