Property

Amazon to spend $1b on HQ

Amazon.com
Amazon.com Amazon.com

AMAZON.com Inc said on Friday it will spend over $1 billion to buy its Seattle corporate headquarters in what will be the United States' biggest commercial real estate deal so far this year for a single location.

The world's largest Internet retailer plans to buy a complex of 11 buildings in the trendy South Lake Union area, comprising 1.8 million square feet of office space, for $1.16 billion from Microsoft Corp co-founder Paul Allen's investment firm.

Based on the value of the deal, Amazon is paying the highest ever price for an office building over 100,000 square feet in Seattle at around $644 per square foot. That is more than double the average rate of $308 per square foot for the city's office space, according to Real Capital Analytics.

Amazon has been leasing the properties and it may make more economic sense for it to buy the location in the current low-interest environment and gain more control over its HQ, analysts said.

Read more at The Huffington Post

Topics:  property, real estate, seattle



Aussies dominate doubles

TENNIS' FUTURE: Australian Lizette Cabrera hits a backhand shot in a tightly-fought doubles match with Olivia Tjandramulia against Monique Adamczak and Olivia Rogowska at the Tweed Tennis International at Arkinstall Park. Adamczak and Rogowska advanced 6-7 (6) 7-5 (10-5).

Tweed Coast Tennis International heating up.

Casuarina sets the benchmark in Tweed market

Our property market is as strong as it's been since the crisis

Local Partners

Bonus point gets Dan and Carleen over the line on The Block

Dan and Carleen in their winning living and dining rooms in a scene from The Block.

BABY boomers win living and dining week as show hits halfway mark.

Olivia Wilde having a girl

Olivia Wilde revealed she is expecting a baby girl.

Michael Palin: Terry Jones dementia is 'painful' to see

Michael Palin has found Terry Jones' decline "painful to watch"

Daniel Radcliffe hoped for haircut anonymity

Radcliffe thought shaving his head would make him more anonymous

Jim Carrey slams 'shameful greed' of lawsuit

Jim Carrey has slammed the "shameful greed" of White's ex-husband.

'Highly unlikely' Brad Pitt will face prosecution

It is highly unlikely that Brad Pitt will be prosecuted

Casuarina sets the benchmark in Tweed market

Our property market is as strong as it's been since the crisis

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

Couple build their own 'tiny house' for $45k

Holly Bowen and Oli Bucher built their "tiny house" themselves, only hiring a plumber and an electrician. Photo/supplied

The house, which is built on a trailer and can be towed.

Sunshine Beach property breaks real estate record

The property overlooks Sunshine Beach, as the backyard lawn meets the sand.

Sunshine Beach mansion sale smashes real estate record

SOLD: Historic hotel finds new owner

Post Office Hotel Grafton

Photo Adam Hourigan / The Daily Examiner

Pub in new hands and heading in a brand new direction

Peppers Airlie Beach put on the market

ON THE MARKET: Peppers Airlie Beach is being for recievership sale by CBRE Hotels and PRD Nationwide Airlie Beach.

Peppers Airlie Beach is being offered for sale.