NREI – Amazon’s NYC Pullout Shouldn’t Have Long-Term Impact on CRE Market: Experts

Reis in the News

By Kerry Curry
Source: National Real Estate Investor – Amazon’s NYC Pullout Shouldn’t Have Long-Term Impact on CRE Market: Experts

Amazon’s pullout of its HQ2 plan from New York City came down to opposition from local politicians over corporate incentives and residents who didn’t want the e-commerce giant in their Long Island City neighborhood. But it shouldn’t have a long-lasting impact on the city’s commercial real estate market.

That is the assessment of real estate experts, several of whom were caught by surprise by Amazon’s quick abandonment of New York after a very public one-and-a-half-year national search that pitted large metro areas around the country against each other to provide the most appealing package of incentives, talent and real estate to lure the corporate giant and 25,000 jobs.

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