Two new Amazon warehouses have hit the market

One of hundreds of Amazon facilities across the country.

Two Amazon-anchored warehouses totaling nearly 3M SF are up for sale as the e-commerce giant resumes its industrial expansion.

As Green Street Real Estate Alert reported on Tuesday, a 1.5 million SF industrial facility in central Pennsylvania is up for foreclosure and is for sale by JLL.

The offering is for two Class A buildings in Middletown owned by Atlanta-based Core5 Industrial Partners, which delivered the property in 2023. Offer prices are expected to be approximately $225 million, or $148/SF per Real Estate Alert .

Following two leases signed by Amazon in recent weeks, the property has a weighted average remaining lease term of 10.2 years.

According to Real Estate Alert, another warehouse occupied by an e-commerce giant in the Phoenix area hit the market in March, the same month that Amazon signed a 1.2 million SF lease for the entire building.

According to Real Estate Alert, The Cubes at Glendale is expected to sell for $127 million in March. Cushman & Wakefield is selling the property on behalf of a partnership between Chicago-based developer CRG and Kansas City, Missouri-based Burns & McDonnell.

This year, Amazon started its adventure with renting warehouses after a break last year after rapidly conquering the market. In just over the first three months of the year, the company signed six agreements for over 1 million SF, which is the same number of lease agreements it signed in the entire year 2023.

Then, at the end of March, it leased 2M SF in California’s Inland Empire, 1M SF in Jurupa Valley and another 1M SF in Ontario, Bisnow reported.