September 13, 2019
Amazon is reportedly taking roughly 500,000 square feet, and Home Depot Inc. has committed to lease nearly 100,000 square feet at Prologis’ Georgetown Crossroads in Seattle. The three-floor, 589,615-square-foot industrial warehouse at 6050 East Marginal Way S., near downtown, is the first of its kind in the U.S.
The facility features truck ramps leading to loading docks on the second level and a third floor, served via forklift accessible freight elevators, for lighter-scale warehouse operations. This new type of distribution center is expected to cut delivery times in congested cities to hours.
The shift to build multi-story industrial facilities is a strategy being eyed by developers in densely-populated markets as a way to also help combat higher land and construction costs. Prologis says the Georgetown Crossroads project cost was about $260-square-foot including land.
Prologis’ Hamid Moghadam says, “You have to go vertical because you can’t find a 50-acre space in the middle of a city close to the customer.”
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