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Amazon Expands New HQ, Yahoo Seeks Sublessee

SEATTLE-In unrelated deals Yahoo puts 60,000 sf of Bellevue space on the market while Amazon acts to ensure room at its potential 2.2 million-sf headquarters project in Seattle.

By Brian K. Miller | Updated on September 24, 2008

SEATTLE-While Yahoo Inc. of Sunnyvale, CA looks to sublease approximately 50% of the 115,000 sf it took down last year at One Twelfth@Twelfth in Bellevue, WA, another big Internet player in the region, Amazon Inc., has expanded the potential size of its headquarters by 40% and might even become a lender on the project.

Amazon’s headquarters project includes five phases totaling 11 buildings adjacent to the city’s streetcar line in the Westlake/Terry district. The buildings are slated to have a combined 100,000 sf of street-level retail space, and to qualify for LEED-Silver certification. Billionaire Paul Allen’s Vulcan Real Estate is the developer. Schnitzer West, a JV that includes Portland, OR-based Schnitzer Investment Corp. is partnering with Vulcan on the first two phases.

Amazon in December signed an agreement that had it occupying at least 820,000 sf in the development and as much as 1.6 million sf from 2010 to 2012. Since that time, the company has upped its base commitment to 1.26 million sf and, even more recently, revealed in an SEC filing that it also has secured options to lease an additional 830,000 sf in the development—40% of that at pre-negotiated terms—taking its total potential leasehold at the project to approximately 2.2 million sf. A Vulcan representative did not respond to a request for comment.

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