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COMMERCIAL REAL ESTATE

Wal-Mart Leases Distribution Space

July 06, 1999

Wal-Mart Stores has agreed to lease 755,000 square feet of distribution space in the Inland Empire community of Mira Loma in a 10-year-deal valued at $24.5 million, according to investment broker Collins Commercial.

In addition, the discount chain is negotiating with Pacific Newport Properties, owners of the 130-acre Mira Loma Distribution Center, to build a second, 750,000-square-foot building. Wal-Mart also is talking to the owners of an adjacent property about building a third distribution building.

Pacific Newport Properties, which was represented by Kent Hindes and Rick John of Collins Commercial, is based in Irvine.

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