BentallGreenOak has snapped up a 575,000-square-foot warehouse in Newark leased by Amazon.com for $138 million.
An affiliate of the New York- and Toronto-based unit of Canadian insurance giant Sun Life Financial bought the Amazon fulfillment center at 38811 Cherry Street, the San Jose Mercury News reported. The price came out to $240 per square foot.
The seller in the all-cash deal was Metropolitan Life Insurance, based in New York. Last summer, the 29-acre property was assessed at $100 million.
The Amazon warehouse is near Interstate 880, which connects to the East Bay and Silicon Valley. It’s also 3.5 miles from State Route 84, which links up with the Peninsula.
The complex totals 575,000 square feet, according to Conor Commercial Real Estate, the principal developer of the property. “The building offers a prominent Bay Area location,” it said on its website.
The fulfillment center provides Amazon with facilities to support its distribution operation, according to the developer.
“The e-commerce retailer benefits from the facility’s 32-foot clear height, 120 dock doors, full-size truck courts and on-site parking for 175 trailers,” Conor Commercial said.
BentallGreenOak is a real estate arm of Sun Life Financial, based in Toronto.
Last May, it bought a 175,000-square-foot warehouse in Southern California’s Inland Empire for $83.4 million.
In February2021, the asset manager bought a 100,000-square-foot warehouse fully leased by Amazon in Brooklyn, New York, for $46 million.
The previous month, BentallGreenOak bought an 18-story office building in Tokyo for $693 million.
— Dana Bartholomew
FAQs
It's the first quarterly loss for Amazon since 2015 blamed, partly, on a slowdown in online shopping that surged during the pandemic. Within their New Jersey footprint, Amazon has 19 fulfillment and sortation centers and 20 delivery stations.
How much warehouse space does Amazon own? ›
By the end of 2022, Amazon had increased its ownership of warehouse and distribution space to 22 million square feet. The share price of several industrial REITs declined more than 25% in the spring of 2022 after Amazon stated it would be cutting its logistics network costs due to an oversupply of warehouse space.
How big is Amazon warehouse in Edmonton? ›
New 1 million square foot warehouse and distribution center developed by TD Greystone Asset Management located in the Nisku Business Park (Border Business Park).
Does LA have an Amazon warehouse? ›
Hours. Amazon Fulfillment Center-UCA3 in Los Angeles, CA is a large-scale facility that specializes in storing, packing, and shipping a wide range of products for the e-commerce giant, Amazon. The center plays a crucial role in ensuring efficient and timely delivery of orders to customers across the region.
Where is the biggest Amazon warehouse? ›
Amazon MQY1 Fulfilment Centre
The e-commerce giant has a combined worldwide capacity in excess of 166 million square feet in its distribution centres alone, with many in excess of 1 million square feet. Perhaps the largest however, is a new facility for 2021 in Mt. Juliet, Tennessee.
Where is the new Amazon warehouse being built in New Jersey? ›
WOODLAND PARK, NJ – Mayor Keith Kazmark and town officials cut the ribbon on the new Amazon Distribution Center located on McBride Avenue on Friday. The over 205,000 square foot facility joins the network of 35+ Amazon operations facilities already in New Jersey.
How many employees does the average Amazon warehouse have? ›
Around 800,000 square feet in size, sortable fulfillment centers can employ more than 1,500 full-time associates. In these buildings, Amazon employees pick, pack, and ship customer orders such as books, toys, and housewares.
Who owns the inventory in Amazon warehouses? ›
In some cases, such as FBA, the seller has the listing, but it is Amazon that holds the inventory in one of their warehouses. In those cases, the seller paid for the inventory and it's Amazon that “fulfills” the shipping aspect of the transaction.
Who owns the biggest warehouse? ›
Tesla's Texas Gigafactory
With over 10 million square feet of factory floor along the Colorado River, Tesla's Gigafactory is the largest warehouse in North America... It is also the largest warehouse in the world!
How big is the Amazon warehouse in Delaware? ›
Where Is the Largest Amazon Warehouse Located? As of September 2021, the answer is Wilmington, Delaware, at 3.8 million square feet. That's large enough to fit 66.6 football fields inside. The five-story warehouse has a footprint of roughly 640,000 square feet on the ground, which is nearly 14.7 acres.
Amazon Canada's revenue numbers have continued to grow in the past few years. According to ECDB.com, Amazon Canada had net sales of US$11.51 billion in 2022, up from US$9.4 billion in 2021 and US$7.6 billion in 20201. It is expected to maintain its strong growth.
How many Amazon warehouses are there in the world? ›
Amazon operates nearly 300 warehouses worldwide, with some as large as a million square feet. Amazon Warehouse is also a feature on the Amazon website where customers can find deals on pre-owned, used, and open box products.
What state has the most Amazon fulfillment centers? ›
Amazon has opened the most fulfillment centers in California and it appears to be planning many future locations across the southern US. Amazon's fulfillment center network is just one of several ways it has become a growing player in the logistics and shipping industry, taking on the likes of FedEx and UPS .
How many employees does Amazon have? ›
2021: 1,608,000 Amazon Employees
The year concluded on a strong note in Q4, with a 9.54% quarterly growth, reaching a total of 1,608,000 employees. The year-to-year growth from 2020 to 2021 was impressive, standing at +25.49%, underscoring Amazon's continued expansion and adaptability in a rapidly evolving market.
How many vehicles does Amazon have? ›
Context: Amazon currently has about 100,000 gas-powered delivery vans worldwide, which will be "slowly retired.” Over 20,000 drivers have been trained around the country to drive the Rivians. Globally, Amazon has 279,000 delivery drivers dropping off 20 million packages a day.
Why are they building so many warehouses in NJ? ›
To minimize supply chain issues, many companies are now trying to manufacture their products closer to home. But they need more warehouse space and logistics centers to do that. All these factors combined lead to a situation in which the US has too few warehouses.
What state has the most Amazon centers? ›
Locations of Amazon Warehouses
According to CNBC, Amazon has more than 110 active fulfillment centers in the US and more than 185 centers globally. The states with the most Amazon warehouse locations are California, Texas, Illinois, Florida, and Pennsylvania.
How many Amazon employees are in New Jersey? ›
The biggest numerical decline between late 2021 and early 2023 was in New Jersey, where Amazon's employment declined by 12,000 people, or 21%, from 58,000 to 46,000 employees.
How does Amazon decide where to put warehouses? ›
Amazon chooses locations based on customer proximity, positioning warehouses close to major population centers to minimize shipping and delivery costs. Transportation infrastructure.
)
