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Amazon inks lease in the Bronx

Amazon has leased a 200,000-square-foot warehouse at Prologis’ 1055 Bronx River Avenue that was previously used by its rival Jet.com. The e-commerce giant has inked a deal for all the space at the Bronx warehouse along the Bruckner Expressway in Soundview, Business Insider reported.

  • Last mile delivery: Amazon plans to use the space as a new delivery station. 
  • BackdropWalmart abandoned the Jet.com brand last month, saying the company had done its job by augmenting their online business. Walmart CEO Doug McMillon said the company gained more than a name. On a call with analysts, he credited the acquisition for “jump-starting the progress we have made the last few years.” He pointed to Walmart’s curbside pickup, delivery to the home, and expansion of categories beyond groceries, such as apparel and home decor. Walmart’s e-commerce business has yet to turn a profit, according to CNBC.
  • FlashbackPrologis paid around $30 million for the building in 2016. [BI+CNBC]

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