1.2M-SF Industrial Lease
Commercial Observer
Connecting and informing industry leaders of trends and individuals defining the global commercial real estate landscape
Amazon signed one of the largest warehouse leases of 2024 so far in Southern California. The deal reflects continued demand for industrial real estate even as investment in the asset class cools. Also for today: America’s third most populous state leans into its unique law for working around opposition to denser housing development.
— Tom Acitelli, Deputy Editor
Amazon Signs Another Big Warehouse Lease in Southern California
The king of e-commerce has expanded again with another warehouse lease over 1 million square feet in Southern California. Amazon signed a new lease for nearly 1.2 million square feet of Class A industrial space in the Inland Empire with CapRock Partners, according to a mid-quarter report released Friday by Cushman & Wakefield. The property spans over 60 acres at 3945 Lytle Creek Road in Fontana, Calif., according to leasing marketing materials. The site is just off the Sierra Avenue exit on Interstate 15, about 12 miles northwest of Downtown San Bernardino.
领英推荐
Check out our newest Deals of the Week, featuring the top commercial real estate transactions at a glance — plus a deep dive into the key players behind each transaction.
DeSantis Beefs Up Live Local Act to Boost Construction of Multifamily Dev
Despite fierce opposition from local governments, Florida Gov. Ron DeSantis signed into law Thursday an updated version of the sweeping Live Local Act, which further boosts developers’ ability to build dense projects with some workforce housing apartments. The bill, which first became law in 2023, remains one of the most aggressive attempts to tackle housing affordability at the state level. Thanks to an influx of new residents during the pandemic, housing costs across Florida skyrocketed. Miami-Dade County alone lacks 90,181 rental units for those earning less than $75,000 annually, according to nonprofit Miami Homes For All. “If we can’t find a way to house our workforce in a way where we don't disconnect them from the best locations for employment, then we're going to have issues. That's going to kind of be our Achilles’ heel,” said Anthony De Yurre, an attorney at Bilzin Sumberg who helped write the Live Local Act.
Enjoying these stories on all things CRE? Unlock unlimited access to our content with a subscription. And for a daily version of this newsletter, sign up here.