Paul Allen's real estate firm to sell Amazon headquarters

Reuters News
Posted: Aug 30, 2012 5:54 PM
Paul Allen's real estate firm to sell Amazon headquarters

SEATTLE (Reuters) - Microsoft Corp <MSFT.O> co-founder Paul Allen's investment empire plans to sell the buildings housing the headquarters of online retailer Inc <AMZN.O> in Seattle.

Allen's Vulcan Real Estate, part of his Vulcan Inc investment vehicle, said on Thursday it wants to sell the buildings in the South Lake Union area in central Seattle so it can use the funds to develop nearby land.

Amazon, which only recently moved into its new headquarters, declined comment on whether it would be a bidder to buy the 11 buildings on 1.8 million square feet of land which make up its headquarters. Amazon already has plans to build new offices nearby to house its growing staff.

Allen, who co-founded Microsoft with school friend Bill Gates, has been the central figure in revitalizing Seattle's South Lake Union neighborhood, which was a semi-industrial wasteland until recently, but is now a thriving center for tech firms and features a number of fashionable restaurants.

Leaving the Left
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Real estate firm CBRE will handle the listing, Vulcan said.

(Additional reporting by Alistair Barr. Reporting By Bill Rigby; Editing by Bernard Orr)