In recent years, Amazon has been an important contributor to the increasing demand for industrial warehouse space in the United States and globally. However, in its 1Q earnings announcement on April 28, the company commented that it now has excess capacity in its fulfillment network and plans to slow down or delay its capital spending. While Amazon represents an important proportion of industrial leasing demand, the current slowdown is not surprising and growing demand for industrial leasing from other segments should step in to counter this impact.