Amazon is planning to open three new delivery centers in the New York area in the first half of next year after locking down leases across the city and suburbs.
Amazon is planning to open three new delivery centers in the New York area in the first half of next year after locking down leases across the city and suburbs.
The Jeff Bezos-led company signed up for space at 5 Warehouse Lane in Elmsford, a 364K SF building in Westchester County, The Real Deal reports. It also leased space at 2300 Linden Blvd. in Brooklyn and at 1502 Bassett Ave. in the Bronx. The sizes of those leases were not made public. Realterm Logistics owns the properties in Westchester and the Bronx. The Brooklyn site is owned by and affiliate of Harbor Group International, an HGI spokesperson confirmed to Bisnow.
While many asset classes have taken a hit, the industrial sector is performing well thanks to the surge in demand.
“[Industrial] was a stepchild at best … and now all of a sudden, that and multistory residential in the suburbs are the only two food groups that anyone is interested in talking about,” Dov Hertz, a developer focused primarily on logistics, said on a recent Bisnow webinar. “There isn’t the COVID discount in industrial today … and I don’t see one happening [in the future].”
For the full article, go to https://www.bisnow.com
DH Property Holdings is a leading real estate development, investment and asset management firm focusing on complex industrial distribution warehouses in dense, urban-core areas.
