Home Depot Hastily Exiting Warehouse Space, Scaling Back More Than 3 Million Sq. Feet in a Month

File this under news that isn’t going to help the commercial real estate bubble collapse any slower…

Home Depot is hastily exiting warehouse space, to the tune of 3.2 million square feet in a month, according to Bisnow.

Since late August, Home Depot has put up nearly 4 million square feet of warehouse space for sublease, including a 1.3M SF Phoenix warehouse and a 1.1M SF distribution center in the Inland Empire, according to CoStar Analytics.

While this move is part of the retailer’s strategy to cut costs by $500M by early 2024, it comes in the midst of a continued bubble in commercial real estate. […]

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