Feeds

Amazon to buy its Seattle HQ from Paul Allen for over $1bn

'Most expensive single office purchase EVER'

The Essential Guide to IT Transformation

Colossal etailer Amazon is going to buy its corporate headquarters in Seattle for $1.16bn, according to a company filing.

The internet giant told the Securities and Exchange Commission that it's planning to snap up the complex of 11 buildings, around 1.8m square feet of office space, by the end of this year. The property is currently owned by the investment firm of Microsoft co-founder Paul Allen.

The deal will be the most expensive purchase anywhere in the US of a single office property, real estate beancounters at Real Capital Analytics said. Amazon will be forking out $644 per square foot, more than double the average rate of $308 in the city, Reuters reported.

The etailing HQ is located in South Lake Union, the trendy centre for tech firms in Seattle.

Allen's Vulcan Real Estate, part of his Vulcan investment firm, put the buildings up for sale in August. Amazon had been leasing the HQ from Vulcan.

The company has already put down a non-refundable deposit of around $23m, which will go up to $51m in a couple of weeks. Amazon is hoping to close the sale by the end of the year and the deposit will be forfeit if it doesn't. ®

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.