Amazon continues to dominate the industrial scene in Greater Boston. The company has leased space at a rate never seen in the market. Both locally and nationally, Amazon has seen tremendous growth as it ramps up its logistics operations centers in an attempt to match demand from the accelerated adaptation of online shopping as the oft-preferred retail experience. Amazon is in a unique position in that they are leasing space not to grow the business, but rather to keep up with the demand of their customers. The e-commerce giant has a constant demand for distribution space in key areas of the market and are locating logistics hubs across Greater Boston.
- Amazon has grown to occupy no less than nine million square feet of logistics and robotics space in the Greater Boston Market
- With nearly five million square feet of new construction and renovation projects underway, Amazon accounts for over 70% of the industrial construction pipeline
- In July, the company announced a target of growing their national distribution footprint by 50% by the end of the year, more growth than the last three years combined
- With the possibility of a deal with Simon Property Group to lease mall space once occupied by JC Penny and Sears, Amazon is on track to pass ten million square feet of space in the market under agreement by year-end
- Amazon has numerous LOIs in place across the market in addition to their development plans and looks to be the largest player in the Boston industrial market for quarters to come