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Amazon Leases 1M SF in Joliet for Chicagoland’s Biggest Warehouse Deal Year-to-Date
Amazon has leased a one-million-square-foot warehouse at the CenterPoint Intermodal Center in Joliet, IL, reported Crain’s Chicago Business. It’s the biggest Chicago-area industrial lease this year and is also the first large warehouse deal the Seattle-based retailer has made locally in several months, although it recently signed a deal of similar size in Kenosha, WI.
The e-commerce giant went on a real estate binge in the early months of the pandemic, cutting nearly two dozen industrial deals in the Chicago area in 2020 alone, Crain’s reported. To improve its coverage of the market and speed up delivery times, Amazon embarked on an aggressive expansion of its distribution network, accounting for a huge share of all industrial leasing in the Chicago area that year.
But the company now intends to expand more slowly, Amazon CFO Brian Olsavsky told analysts during a February conference call. “We see that moderating,” he said.
- ◦Lease
