Amazon reportedly plans to get rid of anywhere between 10M SF and 30M SF of warehouse space, a move that represents a dramatic reversal for the company that has for years had the most voracious appetite for industrial real estate. But its about-face hasn't chilled the hungry market for distribution space — on the contrary, companies that have been competing in a historically tight industrial market see the move as a window of opportunity that hasn't been this open since the pandemic supercharged the need for dedicated logistics space.
“Tenants need space so bad, they're going to take the first available space in an area they need it," said Greg Ryan, who leads Southeast development and acquisitions for industrial player Dermody Properties. "The space will get gobbled up."Amazon is looking to… Read the full story here. |