IKEA Signs 975K SF Lease For Staten Island Distribution Center
The Matrix Global Logistics Park will soon be home to two of the biggest names in modern retail and distribution.
Furniture retailer IKEA has signed a 975K SF lease for a distribution center in the Staten Island industrial park, the same one that will house an 855K SF distribution center for Amazon, Crain's New York Business reports.
IKEA's warehouse will be one story, and is reportedly farther along in construction than Amazon's facility. The park, developed by Matrix Development Group in Staten Island's Bloomfield neighborhood, will be made up of four buildings when complete. Matrix, which has partnered with Morgan Stanley for the development, is building a third, 450K SF facility on spec, with the anticipation of renting to one or two users.
"We think it will cater to smaller warehouse users," Matrix Development CEO Joseph Taylor told Crain's. "There are so many businesses like food users and different distributors that have been pushed out of other areas of the city and still want to be in space in the city."
The fourth building is anticipated to be around 500K SF, but will not break ground until a pre-leased tenant agrees to rent the space. All told, Matrix Global Logistics Park is set to have 3.5M SF of warehouse space when complete.