Amazon HQ Deal: The Year’s Biggest Commercial Property Transaction

Posted by Orb Staff on October 08, 2012 No Comments
Categories : Commercial Mortgage

12531_amazon.com-logo Amazon HQ Deal: The Year's Biggest Commercial Property Transaction Amazon.com Inc. is on track to conduct the largest U.S. commercial real estate deal of the year with the $1.16 billion purchase of its Seattle corporate headquarters.

According to a Reuters report, the Internet retailing giant will buy 11 buildings covering 1.8 million square feet of office space. Amazon had been leasing the property from Vulcan Real Estate, the investment company created by Microsoft co-founder Paul Allen. Amazon expects the transaction to close this quarter.

In addition to the sale, Vulcan Real Estate is developing a new 375,000 square-foot project for Amazon, which has already announced plans to construct more than 3.3 million square feet of office space by 2020.

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