Walmart e-commerce site jet.com leases warehouse in Bronx

Company taking 200K sf of space at 1055 Bronx River Avenue

New York /
Apr.April 11, 2018 07:00 AM

1055 Bronx River Avenue and Marc Lore (Credit: Google Maps and Getty Images)

Walmart’s e-commerce site jet.com is boosting its presence in the city with a new warehouse in the Bronx.

The company has leased an approximately 200,000-square-foot warehouse at 1055 Bronx River Avenue to strengthen its delivery offerings in the city, according to Crain’s. Prologis bought the warehouse in 2016 for almost $30 million, and the asking rent was $22 per square foot.

Amazon had been considering using the warehouse as a location for its online grocery-delivery business, which served as an added bonus for Walmart.

The Walton family purchased Jet in 2016 for $3 billion, and the company is particularly eager to expand its Taste of New York Shop. However, it was unclear whether Jet will use its new space for this.

Demand for warehouse space in New York has been skyrocketing recently thanks to the increasing popularity of online shopping, which also requires companies to find space to store all of their products.  [Crain’s]Eddie Small


Related Articles

arrow_forward_ios
Reynolds Asset Management's Lou Reynolds and 7-15 W Main St in Bound Brook, NJ (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Loopnet, Reynolds Assets Management)
Tri-state roundup: These New Jersey and Long Island deals aren’t turkeys
Tri-state roundup: These New Jersey and Long Island deals aren’t turkeys
Illustration of Stefan Soloviev (HaydenSoloviev, CC BY-SA 4.0, via Wikimedia Commons, Getty)
Soloviev bets long-dormant Midtown East site in casino sweepstakes
Soloviev bets long-dormant Midtown East site in casino sweepstakes
CHIP's Jay Martin and HCR Commissioner RuthAnne Visnauskas (Getty)
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
PulteGroup's Ryan R. Marshall and RedFin's Glenn Kelman (PulteGroup, RedFin, Getty)
Wall Street is bidding up housing stocks again
Wall Street is bidding up housing stocks again
Empire Capital Holdings' Josh Rahmani, Hakimian Capital's Michael Hakimian, RXR's Scott Rechler and 1330 6th Avenue (Getty, Hakimian Capital, Empire Capital Holdings, 1330aofa.com)
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
Urban Commons' Salvatore G. Takoushian with Wagner at the Battery
Urban Commons puts FiDi hotel into bankruptcy
Urban Commons puts FiDi hotel into bankruptcy
(Illustration by The Real Deal; Getty)
Multifamily faces stricter emission caps
Multifamily faces stricter emission caps
Amir Korangy, Michael Shvo and Jeff Greene
Michael Shvo and Jeff Greene talk distress, opportunities in office
Michael Shvo and Jeff Greene talk distress, opportunities in office
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...