
It took the Kings Mountain Corporate Center two years to become an overnight success. After sitting vacant since the industrial project was delivered in 2023, Keith Corp. landed Walmart Fulfillment Services as its tenant. The Charlotte Business Journal reports the retail giant paid $121.5 million for the 1.3 million-square-foot building at a 163-acre site located at 799 Sara Lee Access Road in Gaston County. The industrial building will house its new $300 million distribution operation.
The building will serve as a fulfillment center for large items, including televisions, furniture, and appliances. Walmart is expected to open the operation in 2027.
Walmart had been offered $14.7 million in local government incentives for its project.
Kings Mountain Corporate Center is not Walmart’s first significant industrial real estate acquisition in the Charlotte region. In late 2020, Walmart Fulfillment Services bought the Troutman Industrial Park building for $69 million.
The distribution service, launched in 2020, is part of Walmart’s larger strategy to compete with Amazon.com Inc.
The post Walmart Pays $121.5M for Gaston County Warehouse appeared first on Connect CRE.