Last month Vulcan Real Estate announced that it would be putting Amazon.com's 11-building Seattle headquarters on the market; this week, Amazon announced that it would purchase the campus. In what will be the United States' biggest commercial real estate deal so far this year for a single property, Amazon is expected to close on the 1.8 million square foot complex by the end of the year.
"When we originally commenced the disposition process, we did not think Amazon would necessarily be the buyer," said Ada Healey, vice president for real estate at Seattle-based Vulcan. The 11 buildings were built in six phases. "We were fully prepared to have the six phases go to six different buyers."
In addition to the sale, Vulcan also said last month that it would construct two new buildings for Amazon, a $160 million project two blocks west of the existing headquarters that will add 380,000 square feet for Amazon. According to a Seattle Times article, construction of the five- and six-story buildings should start in January, and Amazon should move in by early 2015.
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