Bloomberg Businessweek / March 24th, 2020
Bloomberg Businessweek reports: As stores from California to New York shut to slow the spread of the novel coronavirus, Amazon.com Inc.’s massive fulfillment centers are a hive of activity. Demand for household staples has been so frenzied that the e-commerce giant is temporarily limiting shipments of nonessential items to its facilities. It also wants to hire 100,000 workers to improve operations—at a time when millions of people in other industries are likely to lose their jobs. The moves have underscored the value of a type of building that real estate investors were already snapping up: warehouses.
Last year, Blackstone Group Inc. bought more than $25 billion worth of industrial properties, which include warehouses and logistics facilities, according to Real Capital Analytics.
View the full article on Bloomberg Businessweek: The World Needs Warehouses Now, and Blackstone’s Got Them