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How Has Amazon Affected the CRE Market?

As a financier of commercial real estate transactions in mid-sized markets, Doug Misner of TIAA Bank is seeing a shift from retail properties in these markets to industrial properties that are serving as last-mile logistics centers.

Amazon effect Many sectors of retail have been impacted by the Amazon effect (credit: Brian Angelo).

SEATTLE—By mid-2018, Amazon was already responsible for roughly 50% of the nation’s e-commerce sales and 5% of all combined offline and online sales, according to Entrepreneur. Earlier this year, US Treasury secretary Steve Mnuchin argued that Amazon is “destroying” the US retail industry, but in reality, how have the rise of Amazon and other e-commerce companies affected the commercial real estate market especially in small and mid-sized markets?

Of course, the answer is a bit more complicated. So believes Doug Misner, SVP/commercial sales leader of TIAA Bank. As a financier of commercial real estate transactions in mid-sized markets, Misner and his team at TIAA Bank are seeing a shift in power from retail properties in these markets to industrial properties that are increasingly being called upon to serve as last-mile logistics centers.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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