News Column

Billion-dollar Vulcan-Amazon Deal Closes

Dec. 21, 2012

Eric Pryne

The Seattle area's biggest real-estate transaction since 2007 -- Amazon.com's purchase of its South Lake Union headquarters campus -- closed Friday.

The online retailer paid developer Vulcan Real Estate $1.154 billion, according to public records. That's slightly less than the $1.16 billion price the companies put on the deal when they announced it in early October.

Amazon is getting nine new and two historic renovated buildings with 1.7 million square feet of office space and 100,000 square feet of retail.

Vulcan, owned by Microsoft co-founder Paul Allen, started building the complex in early 2008. Amazon moved into the first building in spring 2010, and the last building was completed this fall.

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Distributed by MCT Information Services


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Source: (c) 2012 The Seattle Times


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