Amazon to spend $1b on HQ

Amazon.com
Amazon.com Amazon.com

AMAZON.com Inc said on Friday it will spend over $1 billion to buy its Seattle corporate headquarters in what will be the United States' biggest commercial real estate deal so far this year for a single location.

The world's largest Internet retailer plans to buy a complex of 11 buildings in the trendy South Lake Union area, comprising 1.8 million square feet of office space, for $1.16 billion from Microsoft Corp co-founder Paul Allen's investment firm.

Based on the value of the deal, Amazon is paying the highest ever price for an office building over 100,000 square feet in Seattle at around $644 per square foot. That is more than double the average rate of $308 per square foot for the city's office space, according to Real Capital Analytics.

Amazon has been leasing the properties and it may make more economic sense for it to buy the location in the current low-interest environment and gain more control over its HQ, analysts said.

Read more at The Huffington Post

Topics:  property, real estate, seattle



Local Real Estate

Featured Real Estate
D.I.Y. OR INSTALLED HOME... $9500.00 From
Mobile Home Fully self contained granny flat or mod homes.  D.I.Y $9.5k or $12.5K ...
Lovely Family Home in... $280 per week
House 3 1 2
Low set unit with... $250 per week
House 2 1 1
Perfect Family Home ... $320 per week
House 4 1 2

Featured Jobs

Clarence Valley jobs listed daily

Featured Jobs
Registered Nurse Mareeba Part Time
Marketing Officer - Part... Coffs Harbour Part Time
DISABILITY WORKER Grafton Full Time
RANGER $109655.00
Ranger Grafton Ranger Grade 1/2 Ongoing Full-time Vacancy Ref: OEH 183-14 Total ...


Local Partners

LATEST DEALS AND OFFERS

View today's ePaper!

Read the digital edition
Learn More

Your Chance to Win!

Win a Family Beachside Escape...
Learn More

Cars For Sale

Find cars for sale online now.
Learn More

Subscription Sale

Subscribe now for $1 for 14 days.
Learn More

Local Profile

Stay Connected

Get the news as it happens, in your inbox

You can change the newsletters you are subscribed to when you edit your profile

Edit Profile


Special Offers

Latest deals and offers

Horoscopes

Leo

Record your ideas to get some sort of orderliness going now. Keep a small notepad handy and jot down your ideas as and when they arise. It...

read more

Marketplace

Special Offers & Promotions

Compare & Save