Deals

Amazon shells out $1.16 billion to buy Seattle headquarters

Amazon is writing a check for $1.16 billion to buy its Seattle, Washington headquarters, according to a filing released today. With the deal, Amazon picks up the 11-building, 1.8 million square-feet campus currently owned by Paul Allen’s Vulcan Inc.

Amazon expects the deal to close by the end of the year and has already made a $23 million deposit to push it forward.

Amazon’s situation stands in stark contrast to that of Nokia, which is currently looking to sell its own Espoo, Finland headquarters. That deal, which could be worth as least $250 million, would result in Nokia leasing out the property that it currently owns.

Here’s the official filing:

The Company entered into purchase and sale agreements to acquire 11 buildings comprising 1.8 million square feet of our currently leased corporate office space in Seattle, Washington, for approximately $1.16 billion. Subject to satisfaction of customary closing conditions, the Company expects to close the purchase in Q4 2012, and has made a non-refundable deposit of approximately $23 million, which will increase to approximately $51 million on October 22 and will be forfeited if we do not close the transaction in Q4 2012.

Photo: Wikipedia

Topics >

blog comments powered by Disqus