National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Amazon Slows Expansion Push, Nixes Dozens of New Facilities
Amazon.com is slowing the pace of its real estate growth, abandoning dozens of existing and planned facilities around the U.S., Bloomberg News reported. MWPVL International Inc., which tracks Amazon’s real estate footprint, estimates the company has either shuttered or killed plans to open 42 facilities totaling nearly 25 million square feet of usable space.
The company has delayed opening an additional 21 locations, totaling nearly 28 million square feet, according to MWPVL. These moves contrast with previous years, when the world’s largest e-commerce company typically entered the fall rushing to open new facilities and hire thousands of workers to prepare for the holidays.
“There remains some serious cutting to do before year-end — in North America and the rest of the world,” said Marc Wulfraat, MWPVL’s founder and president, told Bloomberg. “Having said this, they continue to go live with new facilities this year at an astonishing pace.”
- ◦Development
