The Real Deal:
Amazon is opening its first fulfillment center in Queens at the site of the former Bulova watch company headquarters in Woodside, sources told The Real Deal.
The e-commerce giant signed a lease for 83,000 square feet with San Francisco-based Terreno Realty Corporation, which bought the three-acre campus near the intersection of Queens’ major highways in March for $25.17 million, according to sources familiar with the deal.
Representatives for Terreno and Amazon could not be immediately reached for comment.
The new fulfillment and distribution center marks a further expansion into the five boroughs for the e-tailer and provides a boost of confidence for investors betting that demand from e-commerce companies will boost industrial property values.