Warehouse/industrial space next to Amazon warehouse?
We are evaluating a purchase of ~30k square feet of warehouse space next to a new Amazon distribution center. Part of the space would be used by the owner/operator for his business (I am an investor in his business) and we would lease out the other space.
In general, would there be any obvious pros/cons to purchasing industrial space next to an Amazon warehouse?
One concern is that the warehouse was built for a single tenant, who subsequently bought out their lease and it has sat vacant for over a year. COVID may have been part of the reason for the vacancy, but also there seems to be a shortage of space in the 5000-50,000 ft space, so it’s a little curious that it’s still vacant.
We are doing a site visit today and wanted to hear what you think about investing near an Amazon facility.