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Amazon Preparing to Occupy Another 572,000 SF In Seattle

E-Commerce Giant's Owned/Occupied Space In Seattle Moves Closer to 6 Million SF
June 11, 2014
Already 'ginormous' and growing larger, Amazon.com has signed leases and taken out permits for tenant improvements and other modifications as the tech giant prepares to occupy more than 572,000 square feet of additional office space in four buildings in the Denny Triangle, Belltown, Lake Union and Elliott Avenue W areas near downtown.

After nearly a year of market rumors about the leases, city and county documents indicate that the e-commerce giant has inked lease deals and is soon planning to move into the space. The new lease agreements were first reported by The Seattle Times, which reported that Amazon has finalized leases for the four buildings.

Amazon already leases or owns more than 5.2 million square feet, including 2 million square feet currently under construction, and has secured approvals to build another 2.2 million square feet at Denny Triangle. In January, Amazon bought nearly an entire city block near Denny Triangle from Clise Properties for a reported $52.2 million.

According to Seattle planning and development department data, the city has issued permits to Amazon and its contractors in preparation for electrical and network cabling, and applied for a permit for interior tenant alterations valued at $2.5 million for conference rooms and offices at Blanchard Plaza owned by San Francisco-based Shorenstein Properties.

Additional contreuction permits have been issued for 2301 5th Ave. (5th and Bell), owned by Hines, and the build out of tenant improvements at 635 Elliott Ave. W, owned by Martin Selig Real Estate.

According to lease memos recorded with the King County Assessor's Office, Amazon took 255,818 square feet at Blanchard Plaza in an 11-year lease commencing April 24, with an option for a seven-year extension.

In other leases:

-Amazon also agreed to take the four-story, 187,434-square-foot building at 635 Elliott Ave. W in a five-year lease dated April 24 with two renewal options along with the right of first negotiation to purchase the building.

-Permits issued for the first, second and third floors of the 5th and Bell building total about 100,000 square feet.

-Amazon has also signed a 26,000-square-foot lease with the real estate arm of Vulcan Inc., owned by Microsoft billion Paul Allen, for space in the renovated Laundry Supply Building at Republican Street and Yale Avenue North, just east of Amazon's existing campus in the South Lake Union neighborhood.

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