Amazon Paying $1.16 Billion To Buy Seattle HQ

Posted on Oct 8 2012 - 5:53am by Editorial Staff

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The online retail giant Amazon.com reportedly spend over $1 billion in order to buy its Seattle corporate headquarters which is said to be the country’s biggest commercial real estate deal, reports Reuters. The company plans to buy around 11 buildings in the South Lake Union area, comprising total of 1.8 million square feet of corporate office space, from Microsoft’s co-founder Paul Allen’s investment firm for $1.16 billion. Amazon is paying $644 per square foot, the highest ever price for an office building over 100,000 square feet in Seattle. The deal expected to be closed in the fourth quarter on the modern office buildings in South Lake Union.

 

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