Bellevue's Tower 333 Sells For $401.5M
Amazon will take over entire lease of the Tower 333 in 2020
Amazon will take over entire lease of the Tower 333 in 2020
Method Products will greatly expand its operations in Pullman Crossings by occupying the park's new 400K SF distribution facility.
While most of the economy has shrunk amid the pandemic, the industrial sector has held strong, expanding as e-commerce booms.
The financing deal with Freddie Mac and Wells Fargo Multifamily Capital includes three loans backed by buildings near Amazon HQ2 and Nationals Park.
Q2 figures for warehouses good but tax worries could dent performance
Amazon workers at a Staten Island warehouse staged a walkout demanding 100% paid sick leave after seven tested positive for COVID-19.
Industrial demand for new space has collapsed, but many users are feeling a space crunch, and over the long term, this could be of real benefit to developers.
As e-commerce demand keeps rising, there's nowhere for warehouses to go but up.
Office experts predict a drop in demand and rising vacancy in the near-term, but they do see reasons for optimism for the D.C. market.
The buyer is also part of the ownership group of The Hub, another major development site near the Innovation Center Metro station.
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