Amazon reportedly in talks to buy land adjacent to its Seattle campus; company has more than 56,000 employees
February 16, 2012
– According to two people with knowledge of the matter, Internet retailer Amazon.com Inc. has reportedly entered into talks to buy land adjacent to the company’s Seattle campus, Bloomberg reported Feb. 16.
The land, which is owned by office development company Clise Properties Inc., was originally put up for sale in 2007 for a target price of US$600 million. The company has had problems selling the property due to the economic downturn, and ended has ended talks with potential buyers—including Emaar Properties PJSC of Dubai in April 2008—that were not able to meet the target price.
The triangular-shaped parcel is located to the immediate south of South Lake Union neighborhood and is north of Seattle’s central business district. In 2010, Amazon moved its headquarters to South Lake Union.
One of the sources said that Amazon intends to buy only a portion of the parcel.
Both of the sources requested to remain anonymous, as the negotiations are private.
According to Amazon’s filings with the U.S. Securities and Exchange Commission, the company had roughly 56,200 employees—including those who only who part-time—as of Dec. 31, 2011.
In comparison, at the end of 2008, Amazon had 20,700 employees. A decade ago, Amazon only had 7,500 employees.
The primary source of this article is Bloomberg, New York, New York, on Feb. 16, 2012.