Amazon.com, Inc. (NASDAQ:AMZN), the world’s largest Internet retailer, said that it will spend more than $1 billion to buy its Seattle corporate headquarters.
In an SEC filing late Friday, the company said that it had agreed to purchase 11 buildings that it currently leases, totaling 1.8 million square feet, for about $1.16 billion. The company said it expects to close the deal by the end of the year and has already made a $23 million non-refundable deposit.
The real estate developer selling the buildings is owned by Microsoft co-founder Paul Allen.
This is seen as good news by most people in Seattle. It shows that Amazon is confident about the future and plans even more growth. In addition to this property, Amazon also leases or is committed to building several million more square feet of office space in Seattle.