GLENDALE, AZ (December 8, 2025) -- Walmart has acquired a nearly 1.28 million-square-foot industrial building next to Luke Air Force Base for $152,161,730 ($119 PSF) marking it as one of the largest industrial sales in metro Phoenix history. The transaction, which closed the day before Thanksgiving, ranks as the second-largest industrial building sale ever recorded in metro Phoenix.
The retail giant will become the first tenant at the newly delivered Luke Field logistics campus, a 140-acre, 2.4 million-square-foot industrial park developed in the West Valley by Lincoln Property Company. Walmart is taking Building C, the largest of the three buildings in the project.
Luke Field sits adjacent to Luke Air Force Base and is bounded by Litchfield Road, Northern Avenue, and Northern Parkway, with immediate access to the Loop 303, Loop 101, U.S. 60, and Grand Avenue.
- Building A totals 695,750 square feet
- Building B totals 454,761 square feet
- Building C totals 1,278,653 square feet
Lincoln Property Company represented itself in the sale. JLL’s Marc Hertzberg and John Lydon represented Walmart.
The deal marks Lincoln’s second major West Valley industrial sale in recent months. In October, the firm sold a 1.25 million-square-foot building at Park303 in Glendale to Dollar Tree for just over $147 million. That facility will become Dollar Tree’s newest regional distribution center — and its first in metro Phoenix.
Walmart is also a tenant at Park303, occupying roughly 1 million square feet across the four-building campus.
Dollar Tree’s Park303 acquisition was the largest industrial sale of 2025, surpassing it.
The only larger industrial building sale ever recorded in the Valley is Apple’s 2013 purchase of a 1,328,075-square-foot Mesa facility at 3740 S. Signal Butte Road, later converted into a data center, according to Connor Devereux, director of market analytics for CoStar Group/Homes.com.
So far in 2025, the Glendale submarket ranks No. 1 in the nation for industrial sales volume, and is the only U.S. submarket to exceed $1 billion in industrial sales this year.
See also our prior report of December 5, 2025.