Saturday, October 6, 2012
Amazon to pay $1.16B for its headquarters complex
SEATTLE — Amazon.com is paying $1.16 billion to buy its 11-building headquarters complex in Seattle from Vulcan Real Estate.
The Seattle Times reports the deal breaks down to $644 per square foot for the 1.8 million-square-foot complex, making the sale arguably the richest office deal in Seattle’s history. The online retailer announced the real-estate deal after Friday’s close on Wall Street.
Amazon and Vulcan, owned by Microsoft co-founder Paul Allen, said they expect the sale to close before the end of the year.
Vulcan began building the complex in Seattle’s South Lake Union neighborhood in early 2008 after Amazon signed leases into the 2020s. Vulcan put the complex up for sale in August.
Earlier this year Amazon also announced plans to buy three blocks in Seattle’s Denny Triangle neighborhood to build a 3.3 million-square-foot high-rise office campus.