Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Amazon Snags Puget Sound Property for $195M, Eyes Development
Amazon is making its first asset buy in Bellevue, WA. An affiliate of the online retail giant, Acorn Development, is acquiring Bellevue Corporate Plaza from Chicago-based Equity Commonwealth for a reported $194.9 million.
The Eastside property at 600 108th Ave. N.E. encompasses a 10-story, 256,830-square-foot office building that was built in 2016. The site also would give Amazon a development opportunity that could accommodate roughly 1.2 million square feet of new office space.
Amazon was started in a Bellevue home nearly 25 years ago. Over the next four years, it plans to relocate employees from Seattle to Bellevue, where it already leases roughly 1 million square feet of space. In an email to employees, Amazon’s Dave Clark indicated the company is seeking to create “an urban campus in downtown Bellevue, where all employees will be within walking distance of each other and have easy access to public transit.”
Eastdil Secured is handling the deal.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
