The Walter Pyramid was officially opened on November 30, 1994, when it hosted a Long Beach State men's basketball game against the Detroit Titans, which aired live on ESPN.

The Walter Pyramid was designed by Don Gibbs and built by the Nielson Construction Company of San Diego.

The Walter Pyramid rises 18 stories above the Long Beach skyline and its exterior is uniformly clad in sheets of dark-blue corrugated aluminum.

[6] In addition to being the vice-president of Levi Strauss & Co., Mike Walter was also a dean for Long Beach State's College of Business Administration from 1993 to 2000.

The Los Angeles Sparks played a 2019 WNBA Playoffs semifinals game at the Walter Pyramid.