Amazon to Pay $1.16 Billion to Buy Its Headquarters from Paul Allen

Amazon wants to own the 11 building complex it currently occupies

By on October 6th, 2012 16:21 GMT

Amazon is quite the cheapskate, it does all it can to drive costs down. And everything it makes each year it puts right back in the business, profit is always abysmal. 

Still, it knows a good deal when it sees it, or maybe it feels the need to pamper itself a little, whatever the case, it's buying its current headquarters for a reported $1.16 billion, €890 million.

The complex is made up of 11 buildings in Seattle, the South Lake Union area, with a total of 1.8 million square feet of office space.

Amazon is not stingy either, it's paying more than double the square foot price for buildings in the city. Office space is sold at an average of $308, €236 per square foot, but Amazon is paying some $644, €494. 

That would be the highest price in the region for a building with more than 100,000 square feet of office space. The building complex currently occupied by Amazon is owned by Microsoft's Paul Allen Vulcan Real Estate.

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One building from Amazon's Seattle HQ
   One building from Amazon's Seattle HQ