While Boston wasn’t selected for Amazon’s second headquarters, the e-commerce giant has taken a keen interest in Boston Metro commercial real estate. Amazon’s recent moves can be taken as an indicator of the region’s economic resiliency and bullish future outlook.
Amazon has been acquiring Boston Metro warehouse space for years. It has about 4,000 employees throughout Massachusetts, with active operations in Fall River, Stoughton, Everett, Dedham, Milford, Holyoke and Bellingham.
But it was the 2019 lease of the former Necco complex in Revere that signaled bigger things to come. The 800,000-square-foot facility opened this summer as a major delivery station, instantly becoming Revere’s largest employer.
Currently, Amazon is in talks with mall operator Simon Property Group to acquire anchor store space for more distribution centers. Specifically, Amazon is eyeing Sears and JC Penny locations that are tethered to malls with large parking areas and proximity to major transportation routes. There are 14 Simon-operated malls in Massachusetts, though only 5 contain the targeted department stores. It’s too soon to say how Amazon might cherry-pick through all the available locations, if a deal is struck. Yet it’s another sign of the appetite Amazon has for Boston Metro commercial real estate.
Meanwhile, the Boston Business Journal reports that Amazon is developing a 3.6-million-square-foot distribution center in North Andover, and a 100,000 square-foot delivery station in South Boston. By the numbers, Amazon will soon become the largest non-institutional occupier of commercial real estate in the Boston Metro!
What will Amazon acquire next? We’re not certain, but you may want to find your new business location first! When you are ready to begin, relocate or expand your business, team up with the Jay Nuss Realty Group, LLC! Whether you are thinking of buying, leasing, or investing in Boston Metro commercial real estate, we can help you find the ideal property.
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