Move over Amazon.com, Home Depot is the new belle of the ball for industrial developers.
The Atlanta-based chain, among other home improvement and construction retailers, is absorbing millions of square feet of warehouse space, as it moves to adjust its supply chain and have more goods in storage. And the company has become an attractive tenant for industrial developers, including Prologis, Duke Realty and Clarion Partners.
In Los Angeles and the Inland Empire alone, Home Depot has signed more than 4.5 million square feet worth of industrial leases so far this year, according to public property records reviewed by TRD.
“It speaks to more consumption, more need for floor space and a supply chain issue,” said CBRE’s Daniel de la Paz. “That extra inventory and getting