Amazon is buying all the warehouses
Amazon’s insatiable hunger for warehouses has caused rents for industrial space to rocket around the world. The retail colossus now has some 410 million square feet of warehouse and distribution space, reports Quartz — double the amount it held at the end of 2019 and more space than the entire Manhattan office market. Amazon’s buying and leasing binge has sent shockwaves through the industrial real estate market. With warehouse vacancies close to zero, rents for industrial space climbed a record 15% globally in 2021. In the U.S. and Canada, rents spiked an average of 18%.