Wednesday, September 10, 2014

Amazon Seeks to Expand Seattle Footprint, Add One Block of Office Space

Amazon is hoping to increase its presence in the Denny-Triangle neighborhood by adding another 778,000 square feet of office space on a fourth block to its 3.3 million square foot, three-block campus in Seattle, according to proposals submitted to the city. The permit filing seeks to build a 24-story office tower, 6-story office building, 5-story office podium and retail space to the fourth block, which is bounded by Seventh and Eighth avenues and Blanchard and Bell streets. If the plans are approved by the city, it will give Amazon a total of nearly 4.1 million square feet of space on the four blocks.

In addition, the company's headquarters in the South Lake Union area totals 1.7 million square feet of office, and Amazon leases space in other buildings in downtown Seattle, according to a Puget Sound Business Journal article. Currently, the company is in a total of 3.7 million square feet, and by 2021 it will occupy 8.2 million square feet of space, according to commercial real estate trade group NAIOP. Based on industry standards for employees per square feet, that would be enough for around 41,000 employees.

For more news and information visit Blumberg Capital Partners.

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