Printed from http://www.electronista.com

Amazon intends $1B purchase of Seattle headquarters

updated 07:03 pm EDT, Sun October 7, 2012

Claimed highest single property deal this year

Amazon will spend over $1 billion in order to buy its headquarters, according to reports. The purchase of the Seattle corporate offices will be the biggest commercial real estate deal for a single property for the year so far, according to Reuters, and will see the online retailer take ownership of the buildings it currently leases.

Consisting of 11 buildings in the South Lake Union area of Seattle, the 1.8 million square feet of office space will change hands from Paul Allen's Vulcan Real Estate to Amazon for $1.16 billion. The deal at $644 per square foot of space works out to be more than twice that of average office space costs elsewhere in the city.

The deal is expected to complete in the fourth quarter, and Amazon already plans to build even more offices in the area for its 50,000-strong workforce.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Logitech Hyperion Fury mouse

Selecting the correct gaming mouse comes down to finding a device that balances the needs of a user with a price they can afford. Ofte ...

Life n Soul BM211 Bluetooth speaker

Bluetooth speakers aren't only for listening to some music at the park or on a long bus ride, but can also be built with tablets in mi ...

Epson PowerLite Home Cinema 2030 projector

With high-definition televisions now the standard, 4K televisions becoming the next big thing, and plasma TVs going the way of the din ...

Sponsor

toggle

Most Commented

 
toggle

Popular News