No room in the warehouse: Amazon fuels shortage

first_img amazonCBRECommercial Real EstateIndustrial Real EstateRetail Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name* Message* Email Address* Tags Share via Shortlink Amazon’s Jeff Bezos (Photo illustration by Kevin Rebong for The Real Deal)Amazon takes up warehouse space — a lot of it.It’s to the point where the vacancy rate is so low in some North American cities that their economies could be throttled, according to Colliers International Group and CBRE reports cited by Bloomberg News.The warehouse vacancy rate in Toronto shrunk to 0.5 percent as Amazon snatched up warehouses in response to the e-commerce boom, the publication said. That’s the lowest among major North American markets.Other Canadian locales aren’t far behind, with vacancy rates in Victoria and Vancouver at 0.7 percent and 1 percent, respectively. They are followed by Montreal (1.4 percent), Los Angeles (1.8 percent), Salt Lake City (2.2 percent) and central and northern New Jersey (2.7 percent), Colliers found. The U.S. average is 5.5 percent.ADVERTISEMENTAmazon is the main driver of the squeeze, having increased its logistics footprint by about 12 million square feet across nine major Canadian markets since late 2019, according to the publication.Read moreAmazon leases massive warehouse near JFK Airport Amazon to open 1,000 warehouses in the suburbs Amazon plans Melville fulfillment center as it expands across LI E-commerce tripled its share of total Canadian retail sales to 10.4 percent at the start of the pandemic, increasing the need for warehouses and fulfillment centers. Costs to lease industrial space went up by 25 percent.Amazon rented a quarter of all the space that came up for lease in Toronto last year, and has an even larger footprint in Montreal and Ottawa.At this rate, Canada could run out of warehouse space by the end of the year, CBRE predicted.Desperate times call for desperate measures, and the lack of space has some manufacturers packing orders in parking lots, Bloomberg noted.Logistics costs amount to roughly 9 percent of the country’s gross domestic product. A lack of space would drag down the country’s economy, the publication reported.“There are fewer jobs, fewer permanent jobs that can be created, because companies aren’t able to fulfill demand,” Jan De Silva, president and CEO of the Toronto Region Board of Trade, told the news service.As for Amazon, it doesn’t look like the company plans on slowing down. It just leased a massive warehouse in Woodmere that brings its planned warehouse space on Long Island to more than 1.4 million square feet.[Bloomberg News] — Cordilia JamesContact Cordilia Jameslast_img read more

Thanksgiving 2016 Turkey Trots on Long Island

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York By Natalie ColopriscoMost people think of Thanksgiving as a day for food and family time, but for hundreds of thousands of people across the country, the holiday is also a time for competitive running.These festive Thanksgiving Day races known as Turkey Trots are often tied to different charitable fundraisers, food drives and other good causes dovetailing with the season of giving.What follows is a guide to 16 Turkey Trots on Long Island this weekend through Thanksgiving:7th Annual Massapequa Park Turkey TrotBrady Park, corner of Lake Shore Drive and Front Street, Massapequa Park. $15-$30. 8:30-10 a.m. Nov. 19.2016 Matthew’s Turkey Trot 5K & Chicken Run 1KWest Harbor Memorial Beach, West Harbour Dr., Oyster Bay. $25-$30. 9 a.m. Nov. 19.12th Annual Long Beach City Council Turkey TrotNew York Avenue & Boardwalk, Long Beach. $5-$30. 8:30 a.m. Nov. 20.Stony Brook University’s 2016 Turkey Trot 5KNichols Road, Walter J Hawrys Campus Recreation Center, Stony Brook University, Stony Brook. $15- $25. 9:30 a.m. Nov. 20.36th Annual Shoreham Wading River Thanksgiving Day RacesMiller Avenue Elementary School, Miller Avenue, Shoreham $15-$20. 8 a.m. Nov. 24.40th Annual “Run for Fun” Turkey Trot742 Montauk Hwy., Montauk. 8 a.m. Nov. 24.9th Annual NRSP Foundation 1K Turkey Trot for Kids & 5K Run/Walk for the ParkNissequogue River State Park, 799 Johnland Rd., Kings Park. $10. 8:30 a.m. Nov. 24.TWF’s 2016 Thanksgiving Day Charity Run (Turkey Trot)American Legion Hall, 1 Mill Dam Rd., Huntington. $7-$40. 8:30 a.m. Nov. 24.Garden City’s 2016 Turkey TrotSt. Paul’s School, 285 Stewart Ave., Garden City. $15-$35. 8:30 a.m. Nov. 24. 41st Annual Port Washington Thanksgiving Day 5 Mile Run (Turkey Trot)Manorhaven Park, Manorhaven Boulevard, Port Washington. $25-$60. 8:30 a.m. Nov. 24Massapequa’s 2016 Turkey TrotJohn J. Burns Park, Merrick Road, Massapequa. $10-$35. 8:30 a.m. Nov. 249th Annual Smiles Turkey TrotCorey Beach Park, 1 Corey Ave., Blue Point. $10-$20. 8:45 a.m. Nov. 24Smithtown Kickers Turkey Trot 2016Smithtown Elementary School, 51 Lawrence Ave., Smithtown. $10- $25. 9 a.m. Nov. 24.11th Annual Thanksgiving Day Turkey TrotMattituck High School, Main Road, Mattituck. $15-$30. 9 a.m. Nov. 24.North Shore Turkey TrotNorth Shore Community Youth Organization, 200 Glen Head Rd., Glen Head. $5-$25. Nov. 24.13th Annual St. John the Baptist Run Your Turkey OffSt John the Baptist Diocesan High School, 1170 Montauk Hwy., West Islip.$25. 9 a.m. Nov. 25.last_img read more