Shares of New York-centric real estate investment trusts spiked after reports this week that Amazon.com Inc. had narrowed its list of HQ2 cities to three, including Queens in New York City.
The Seattle-based e-commerce giant (NASDAQ: AMZN) is reportedly close to naming Long Island City in Queens as one of two sites for its second headquarters. The other candidates said to be in late-stage talks are Dallas and Crystal City in Arlington.
Several publicly traded companies stand to benefit, including Vornado Realty Trust (NYSE: VNO), Alexandria Real Estate Equities Inc. (NYSE: ARE), SL Green Realty Corp. (NYSE:SLG) and Cushman & Wakefield (NYSE: CWK). Privately held Durst Organization could also benefit.
Chevy Chased-based JBG Smith Properties (NYSE: JBGS), which was formed out of a merger between The JBG Cos. and Vornado’s Crystal City holdings, also saw its shares jump on reports that the Arlington neighborhood would be one of the sites of HQ2.
In 2014, Vornado agreed to acquire the…Read the full story from the Washington Business Journal.