Amazon nears lease at RXR’s Queens warehouse development

Developers RXR Realty and LBA Logistics paid $72M in 2018 to buy the Maspeth properties

New York /
Dec.December 06, 2019 10:10 AM
Amazon CEO Jeff Bezos and RXR CEO Scott Rechler with 56-19 Grand Avenue in Queens (Credit: Getty Images, Google Maps)

Amazon CEO Jeff Bezos and RXR CEO Scott Rechler with 56-19 Grand Avenue in Queens (Credit: Getty Images, Google Maps)

RXR Realty’s big bet on logistics space in Queens has paid off.

Amazon is in talks to lease the massive vertical warehouse RXR and partner and LBA Logistics are constructing in Maspeth, according to Crain’s.

Last year, RXR and LBA revealed plans for a 770,000-square-foot, four-story logistics center in the industrial section of Maspeth, which sought to attract “retailers, e-commerce and New York-centric companies looking to satisfy the expedited shipping demands of customers in the largest consumer base in the United States.”

The developers paid $72 million in 2018 to buy the properties at 54-15, 55-15 and 56-19 Grand Avenue.

Now, the site will serve as a staging ground for the continued expansion of Amazon’s network of last-mile delivery warehouses. Maspeth is located close to dense residential areas and would provide Amazon with access to Brooklyn, Queens, Manhattan and the Bronx.

But the deal could reignite tensions between Amazon, elected officials, community groups and organized labor, according to Crain’s. Amazon has so far scuttled attempts to unionize the retail giant’s Staten Island warehouse.

After Amazon cancelled plans for a Long Island City headquarters on Valentine’s Day, the online retailer has continued its expansion elsewhere in the city, eyeing multiple office sites in Manhattan and logistic spaces in Brooklyn and Queens. [Crain’s] — Georgia Kromrei


Related Articles

arrow_forward_ios
Amazon CEO Andy Jassy (Getty Images, iStock)
Amazon to scrap industrial properties in warehouse strategy flip
Amazon to scrap industrial properties in warehouse strategy flip
(iStock)
NYC rents soar as Covid deals die
NYC rents soar as Covid deals die
From left: Developer Bruce Teitelbaum and Durst Organization CEO Douglas Durst and 44-02 Vernon Boulevard (Getty Images, LoopNet, iStock)
“A tremendous ordeal”: Lawyers in $97M Durst buyout slam case
“A tremendous ordeal”: Lawyers in $97M Durst buyout slam case
Durst's Douglas Durst and 44-02 Vernon Boulevard (The Durst Organization, Google Maps)
Investors in huge LIC project buy out Durst for $97M
Investors in huge LIC project buy out Durst for $97M
Material Bank's founder and CEO Adam Sandow (Material Bank)
Design supplies marketplace Material Bank worth $1.9B after fundraise
Design supplies marketplace Material Bank worth $1.9B after fundraise
Amazon ceo Andy Jassy and former ceo Jeff Bezos (Getty Images, iStock, Illustration by Kevin Cifuentes for The Real Deal)
Amazon binge ends in hangover, halt on warehouse deals amid $4B loss
Amazon binge ends in hangover, halt on warehouse deals amid $4B loss
A photo illustration of 112-51 Northern Boulevard (Fleet Financial Group, iStock)
SEC looking into EB-5 fraud allegations against Queens developer
SEC looking into EB-5 fraud allegations against Queens developer
Robot arms and 45-18 Court Square (Newmark, iStock)
Here come the robots: life sciences firm nearly doubles LIC footprint
Here come the robots: life sciences firm nearly doubles LIC footprint
arrow_forward_ios

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

Loading...