Here’s some impressive commercial real estate numbers for your Wednesday: Amazon is set to inhabit 4.1 million square feet of new warehouse space in Ontario.
The distribution center will be the company’s largest commercial real estate property in the world once completed at the end of 2022.
San Francisco-based Prologis Inc. is building the warehouse for Amazon. According to the O.C. Register, the the five-story, 97 foot-tall building across 93 acres will take up more space than Disney’s California Adventure theme park.
The timing, though, is precarious given Amazon recently announced plans to sublet some of its commercial footprint. According to the Wall Street Journal, the company has acknowledged it overbuilt as it sought to meet pandemic demand and will attempt to shed some warehouse space.
Amazon is expected to try and offload at least 10 million square feet in its largest markets, including in New York, New Jersey, California and Atlanta.