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

Genre Bending: Backpack Hip Hop

first_imgby Jack Marley-PayneIn the summer of 1998, four hip-hop artists were disillusioned with the bravado and posturing seemingly entailed by their career choice and so decided to try for a change. The result of said decision was Deep Puddle Dynamics’ The Taste of Rain…Why Kneel? On this album, one cannot find any self-referencing, machismo or cheap jokes. Instead we are presented with challenging sounds, complex structures and some of the oddest (if you’re cruel: ridiculous) lyrics recorded this side of the sixties- ‘In the immortal words of Oliver Wendell Holmes “A mind that is stretched to a new idea never returns to its original dimension.”’With this was born the Anticon label and the genre many refer to as ‘Back-pack hip-hop’- as no one likes to be pigeon-holed, this term is rejected by most of the artists who fall under it. Basically, it is concerned with forward thinking rappers who combine their native style with less conventional elements- namely the ambition of progressive rock and the sonic experimentation and out-there lyrics of pyschedelia. If this all sounds too much, remember that it does have the strong and catchy beats intrinsic to hip-hop. The compilation from Anticon entitled Music for the Advancement of Hip-Hop gives an overview of the ideas involved and is exceptionally mixed to boot.Perhaps the high point of this style thus far is cLOUDDEAD and their self-titled album. It is beautifully crafted and really blurs the boundary between singing and speaking. Mesmerising sounds are created as the members talk simultaneously or go round saying one word each. The voices slip in and out of focus so you only catch mystical snatches- ‘Space is potent.’ Vocals are complimented by some inspired production and samples that are both comic and creepy. If you do nothing else, at least give this a go. The genre is constantly developing and diversifying as more and more influences are accumulated. Elephant Eyelash by Why? puts most straight indie bands to shame whilst Boom Bip and Doseone’s Circle seems to be a sort of aural depiction of a hypnosis induced regression. In short, this is one of the few genuinely exciting movements around right now. Whereas so much of what claims to be new is just digging out old styles we’ve forgotten a bit, these guys are making stuff that sounds like nothing that’s been heard before. An idiot might suggest: ‘it’s a sound like no other.’ Idiot or not, you should investigate.last_img read more

Toys-R-Us announces comeback in time for Christmas

first_imgWashington D.C. — A group of investors is planning a comeback for Toys R Us, in the latest twist for the troubled retail brand.The group, made up of secured lenders, said Tuesday it’s scrapping an auction for intellectual property assets because it didn’t receive any bids that were better than its own.The investors said they’ll work with potential partners to develop new ideas for stores in the U.S. and other countries “that could bring back these iconic brands in a new and re-imagined way.”The reorganized company will control trademarks, e-commerce assets and data related to the Toys R Us and Babies R Us brands.Toys R Us liquidated its U.S. business earlier this year, after filing for Chapter 11 reorganization following a leveraged buyout that hobbled the company.(Associated Press)last_img read more

Arsenal Moves to Third after Win against Newcastle

first_imgNewcastle’s Matt Ritchie produced a fine diving header on the goalline to deny Alexandre Lacazette, but the Frenchman doubled Arsenal’s lead late on when he calmly lofted the ball over goalkeeper Martin Dubravka.The visitors’ best chance fell to Salomon Rondon, but his low shot was pushed wide by Arsenal goalkeeper Bernd Leno.Arsenal were 10 points behind Tottenham at the start of February but this victory took the Gunners two points clear of fourth-placed Spurs and United in fifth with seven league games remaining.This victory was a 10th home league victory in a row for Arsenal, their best run since a similar sequence from December 1997 to May 1998, as Unai Emery’s team continued a strong second half of the season that could see them secure a return to Champions League action after a two-year absence.Arsene Wenger’s 22-year spell in charge of the Gunners ended with regular protests among the fans as they watched their team drift away from Europe’s elite.But Emery, in his first year in the English game, has galvanised the side with his brand of free-flowing attacking football and this result took them to 63 points – the same that the Gunners managed under Wenger in all of 2017-18.Arsenal started with top scorer Pierre-Emerick Aubameyang on the bench, but they still had 71% possession and were simply too strong for their opponents.The hosts thought they had taken a 12th-minute lead, but Ramsey’s volley was ruled out as Sokratis was adjudged to have fouled Florian Lejeune.But the Welshman, who missed his country’s two matches during the international break, scored 17 minutes later with a low strike after DeAndre Yedlin’s clearance inadvertently fell into Ramsey’s path.The home fans were nearly celebrating again just before half-time, but Lacazette’s powerful effort was spectacularly headed off the line by Ritchie with Dubravka beaten.After Sokratis headed wide and substitute Aubameyang had a shot saved, Arsenal got the second goal they deserved through Lacazette’s calm finish after Aubameyang’s flicked-on header set up the chance.The only negative from the evening was Ramsey, who will join Juventus on a free transfer in the summer, going off with an injury midway through the second half.It was a tough night for Newcastle as they saw little of the ball and spent a lot of the time chasing it unsuccessfully against their dominant opponents.The visitors only had one shot on target in the opening 45 minutes, when Rondon proved too strong for Sokratis but saw his low strike pushed wide by Leno.Even though Arsenal central defender Shkodran Mustafi looked a weak link as he repeatedly lost the ball, Newcastle struggled to create chances.Indeed, they did not have a shot on target after the break with Ki Sung-yueng shooting wastefully wide from the edge of the area in a rare opportunity to equalise, before Lacazette sealed the three points for the home side in the 83rd minute.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram RACE FOR TOP FOURArsenal beat Newcastle at Emirates Stadium to move above Manchester United and north London rivals Tottenham and go third in the Premier League.Aaron Ramsey, who had an earlier effort disallowed following a foul, put the hosts ahead with a fine low strike from 15 yards out.last_img read more