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



Welfare costing taxpayers $300,000 a minute

Pauline Hanson wants a crackdown on welfare cheats.

Pauline Hanson calls for ID card to stop the cheats

Miss Supercars' Olympic heartache

Miss Supercars 2017 winner, Darwin’s Sophie Budack (centre), with first runner-up from the Gold Coast Michaela Arnott (right) and second runner-up Nicole Hall from Brisbane. Picture: Glenn Hampson

Her wins secures a $25,000 prize package including $1000 cash

Death at Fingal: 'Our world is turned upside down'

Dylan Carpenter with his mum Natalie.

“At the age of 20 you aren’t supposed to leave this Earth"

Local Partners

Mackay real estate agent urges banks to move

Who's leading who when it comes to the housing market?

Willy-nilly lending burst a bubble, but agent urges banks to change

Flooding's 'not an issue' for Cudgen development

Photo of the flooding at Cudgen new development

Landowner not worried about water.

Developer keen to show plan for Kingscliff

DISCUSSION: Gales Holdings director Dr Stephen Segal speaks to concerned residents during the open day in Kingscliff.

Gales Holdings dismisses concerns over flooding

Going long-term in property? Women invest the best

Susan Farquhar

Investing in property? Trust a woman