BAYTOWN, TX-Wal-Mart Corp. has purchased the distribution complex it manages in Baytown for $104.5 million from the State of Texas Permanent School Fund. The complex measures 4 million square feet.
The state's General Land Office purchased the pair of buildings measuring 2 million square feet each for $100 million from Wal-Mart in 2005. After buying, the state leased back the 240-acre project to the retailer for 30 years. The deal was closed on June 30. For the full story, go to Houston Business Journal .
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