Amazon aims to sublet, end leases of warehouse
Financial Express Mumbai|May 23, 2022
AMAZON.COM, STUCK WITH too much warehouse capacity now that the surge in pandemic-era shopping has faded, is looking to sublet at least 10 million square feet of space and could vacate even more by ending leases with landlords, according to people familiar with the situation.
Amazon aims to sublet, end leases of warehouse

The excess capacity includes warehouses in New York, New Jersey, Southern California, and Atlanta, said the people, who requested anonymity because they're not authorised to speak about the deals. The surfeit of space could far exceed 10 million square feet, two of the people said, with one saying it could be triple that. Another person close to the deliberations said a final estimate on the square footage to be vacated hasn't been reached and that the figure remains in flux.

Amazon could try to negotiate lease terminations with existing landlords, including Prologis, an industrial real estate developer that counts the e-commerce giant as its biggest tenant, two of the people said.

This story is from the May 23, 2022 edition of Financial Express Mumbai.

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This story is from the May 23, 2022 edition of Financial Express Mumbai.

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