Amazon distribution centers will account for 8 of the top 10 largest industrial projects underway in the US this year, with a total footprint of 28.3 million square feet—an area about the size of New York City's Central Park.
Data from Commercial Edge shows the e-commerce giant is constructing four warehouses totaling 14.8 million square feet in Colorado Springs; Suffolk, Va.; Mt. Juliet, Tenn.; and San Diego. The company is set to lease 13.5 million square feet in deals with Fortress Investment Group (Little Rock), Dermody Properties (Wilmington, De.), and Seefried Industrial Properties (Pflugerville, Tex.).
Industrial development ramped up last year to meet the demands of WFH consumers sheltering in place, with nearly 276 million square feet added across 915 properties, according to the report. Dallas and Phoenix topped the list of prime locations for industrial growth, with both cities ushering in more than 25 million square feet of new industrial space. All told, the 2020 construction totals were nearly double that of the 2019 pipeline.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.