Vulcan To Invest Proceeds from $1.15B Sale

SEATTLE-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Amazon has closed on the $1.16-billion purchase of its global headquarters here from Vulcan Real Estate. The South Lake Union development campus, which is comprised of eleven buildings across 1.8 million square feet, was listed for sale in August. Amazon entered into a purchase and sale agreement in October, as GlobeSt.com reported.

Vulcan plans to invest proceeds from the sale toward continued revitalization efforts of Seattle’s South Lake Union neighborhood, where it has developed nearly 30 acres of land over the past 10 years. The campus is at the center of the newly revitalized South Lake Union neighborhood that is also home to health organizations, multifamily developments, retail and restaurants.