2 New Amazon Warehouses Hit The Market
Two Amazon-anchored warehouses totaling nearly 3M SF are on the market for sale as the e-commerce giant has resumed its industrial growth.
A 1.5M SF industrial facility in central Pennsylvania is up for grabs and is being marketed by JLL, Green Street's Real Estate Alert reported Tuesday.
The offering is for two Class-A buildings in Middletown, owned by Atlanta-based Core5 Industrial Partners, which delivered the property in 2023. Bids are expected to be around $225M, or $148/SF, per Real Estate Alert.
The property has a weighted average remaining lease term of 10.2 years, after two leases executed by Amazon in recent weeks.
Another warehouse occupied by the e-commerce giant in the Phoenix area hit the market in March, according to Real Estate Alert, the same month Amazon signed a full-building, 1.2M SF lease.
The Cubes at Glendale was expected to sell for $127M as of March, according to Real Estate Alert. Cushman & Wakefield is marketing that property on behalf of a partnership between Chicago-based developer CRG and Kansas City, Missouri-based Burns & McDonnell.
Amazon has been on a warehouse leasing kick this year, after pausing last year following its blitz of the market. In just over the first three months of the year, the company signed six deals for more than 1M SF, the same number of leases it signed during the full year of 2023.
Then, in late March it leased 2M SF in California’s Inland Empire, 1M SF in Jurupa Valley and another 1M SF in Ontario, Bisnow reported.
