trending Market Intelligence /marketintelligence/en/news-insights/trending/_y6qjg9nblDVCRd7MqA8Dg2 content esgSubNav
In This List

Amazon signs up for more office space in Seattle

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud

Blog

Investment Research Analysts Providing Greater Coverage on Inflation

Blog

Using Credit Analytics to Avoid Mispricing Insurance Premiums


Amazon signs up for more office space in Seattle

Amazon.com Inc. is leasing the entire 722,000 square feet of office space at Wright Runstad & Co.'s Rainier Square office tower in Seattle, Bloomberg News reported, citing the developer.

The agreement comes as the online retail giant looks for a second headquarters in North America. A Howard Hughes Corp. site in Allen, Texas, and Hines' planned mixed-use development called The Strand, also in Allen, are being pitched to be the location of the online retail giant's second home base.

The 58-story, $570 million Seattle skyscraper is poised to be the city's second-tallest after Columbia Center. The 1.17 million-square-foot tower, set to open in 2020, will also house 200 luxury apartments above the offices, along with an Equinox fitness club and organic food market occupying part of the retail space, the news outlet noted.

The development is replacing a low-rise retail complex, which is undergoing demolition. Wright Runstad will commence the second phase of the project, which will be a hotel, in late 2018, with New York-based Related Cos. as a partner.

The University of Washington owns the land under development and gave Wright Runstad an 80-year ground lease in 2014 according to the report. A pension client of JPMorgan Chase & Co.'s asset management is funding most part of the project and will also own the property with the developer.