An Amazon warehouse (Credit: iStock)
With making on the decrease, designers are progressively turning old commercial buildings into circulation centers.According to a report by Newmark Knight Frank, e-commerce is driving need for commercial properties that can be repositioned into or demolished to make way for distribution centers. Much of these warehouses are located in northern and main New Jersey, where websites provide quick access to highways, rails and ports. In Piscataway, the Rockefeller Group is turning a 228-acre site– formerly home to a Dow Chemical plastics factory– into 5 structures that will cover 2.1 million square feet for distribution usage. Best Buy is the project’s first renter, the New York Times reported.In the past decade, the United States has lost approximately 640,000 making jobs, according to the Bureau of Labor Statistics. Thomas Hanna, president of Harvey Hanna & Associates, said that while “production isn’t totally dead” his company couldn’t make the economics work to keep a former General Motors assembly plant in Delaware as a factory for high-end vehicles. Rather, the business will take down the plant to make way for 4 structures developed for the logistics industry.” Logistics is the
fastest-growing segment within the realty market,”Hanna stated.”Everybody is aiming to figure out the best ways to get their item to the consumer the fastest. “In 2014, Amazon opened a miniature storage facility in Manhattan at Vornado Real estate Trust’s 7 West 34th Street. In 2015, the company revealed that it would open its very first massive warehouse in the city at Matrix Development Group’s 546 Gulf Opportunity in Staten Island. [NYT]– Kathryn Brenzel
Leave a Reply