Amazon lifts industrial real estate market

Industrial properties closed out 2020 and started off the new year as a relative bright spot for New York real estate—especially as the pandemic continues to wreak havoc on the office, retail and residential markets.

During the last quarter of 2020 about 870,000 square feet of industrial property was leased in the city, according to a new CBRE report, which said that for the year overall, there was approximately 7.2 million square feet of industrial leasing activity.

Amazon played a major role, inking two East New York, Brooklyn, leases in the fourth quarter: a 90,000-square-foot spot at 2300 Linden Blvd. and a 211,000-square-foot property at 12555 Flatlands Ave.

→ Continue reading at Crain's New York Business

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