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 currentlythe 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, including the redevelopment of a 30-acre property it owns in South Lake Union.