Wal-Mart has completed the $104.5 million acquisition of a distribution complex in Baytown, Business Journal reports. The State of Texas Permanent School Fund is the seller of the property.
In 2005, the state’s General Land Office, which invests in real estate property for the Permanent School Fund, acquired the pair of buildings from Wal-Mart for $100 million. At that time, the project was rented out to the Arkansas-based retail giant for 30 years.
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