Amazon.com Inc. is beefing up its presence in the Valley, having just sealed a deal for a staggering 1.2 million-square-foot space at The Cubes at Glendale industrial park, as ABC15 reported. This 10-year lease agreement underscores the e-commerce heavyweight's expansion efforts, despite a recent cooldown in its warehouse activities.

The newly leased building, known as Building B on 15301 W. Northern Ave., is tucked away in an industrial district that's home to other big names such as Nestle, Red Bull, White Claw and Walmart, so Amazon is in familiar company, though details regarding the lease terms remain under wraps as Amazon and Chicago-based CRG, the developer behind the project, both held back comments, according to the Phoenix Business Journal.

Additional significant tenants at The Cubes include Williams-Sonoma Inc.'s expansive facility and warehouses by U.S. Merchant and Saddle Creek Logistics; once The Cubes is fully developed, the complex is expected to sprawl over 5.5 million square feet, of which four buildings have been completed.

Notwithstanding this latest lease, Amazon has continued to reinforce its Arizona footprint with 17 fulfillment and sortation centers along with 13 delivery stations in the state alone, an infrastructure supporting more than 33,000 jobs, as last year peaked with a slew of major leases including Lowe's 1.2 million-square-foot signing at The Cubes at Mesa Gateway and Amazon's own 1.1 million-square-foot deal at Elliot 202 in Mesa, and even though leasing for million-square-foot buildings took a dip in 2023, Amazon isn't showing signs of major slowdown, the Phoenix Business Journal's coverage indicates.

Real estate experts are closely monitoring this move, speculating on its implications for the Valley's industrial market; real estate services firm Cushman & Wakefield, managing the listing and advising on a potential sale of the Amazon-occupied building, pointed to the deal as a pivotal transaction for the area.