Amazon has spent over $100 billion on warehouses since 2020, including 8 out of the 10 largest in the US


Over the past two years, the company has more than doubled its warehouse holdings from 192 million square feet at the end of 2019 to more than 410 million square feet today.

All that buying is affecting the industrial real estate market. Warehouse vacancies are effectively zero and rents are spiking to record levels around the world, according to a Feb. 10 report from Prologis, the world’s biggest warehouse landlord. Globally, rents rose a record 15% in 2021; in the US and Canada, the average rent hike was nearly 18%.

The company has spent over $100 billion on purchases of property and equipment since the start of 2020, including orders for eight out of the 10 largest warehouses being built in the US.

The frenzied pace of Amazon’s supply chain expansion has fueled speculation that the company could be on the verge of launching a delivery business to compete with the likes of UPS, FedEx, and DHL.