Amazon signed an agreement to purchase a Seattle office campus containing 11 buildings and 1.8 million sq. ft. of space from Vulcan Real Estate for $1.16 billion. Amazon currently leases the buildings as part of its corporate headquarters.
The campus is located in Seattle’s South Lake Union neighborhood.
“We are truly excited that Amazon is making this long-term commitment to the South Lake Union community,” said Ada M. Healey, vice president of real estate for Vulcan Inc., in a statement. “We know they will be excellent stewards of this property and will continue to play a vital role in revitalizing South Lake Union and creating a thriving urban neighborhood in the heart of Seattle’s urban core.”
Vulcan plans to use the proceeds from the sale for future real estate investments, including the redevelopment of a 30-acre property it owns in South Lake Union.
