July 25, 2019

Amazon Rumored to Be Looking at Industry City for New Logistics Facility

Mentions News

Commercial Observer

“Where can they actually go that can provide the scale of property that they need?” asked Dan Marks, a partner and industrial investment sales broker at TerraCRG. “Most of the places are out in eastern Brooklyn, East New York, Gateway — away from where a lot of people live — and the other options are Industry City and the Army Terminal. The Army Terminal has a big campus with large parking lot areas, so if the city wanted to unlock additional [floor area ratio], there it could happen.”

“These are hard markets to penetrate, so you have to take what you can get when you can get it,” Marks said. “We have people in our office every week who have an unlimited budget and want to buy property for distribution centers,” but there are very few places in Brooklyn with the zoning that would allow the construction of large, new warehouses.

“I don’t know if they care or not, but this could be an opportunity to come back into the boroughs and say, ‘Look, we’re committed to being in New York, we can show you we can be a good neighbor and a good partner in the community,’” Marks explained.

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