Economics
Amazon’s Plans for Towers May Swell Seattle Market by 7%
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Amazon.com Inc. plans to build three commercial towers in Seattle, potentially increasing the city’s downtown office space by 7 percent, based on the company’s preliminary development plans and figures from CBRE Group Inc.
The largest Internet retailer, based in Seattle, agreed to buy three contiguous blocks from Clise Properties Inc. and has options to buy additional “significant” sites nearby, said Chairman Al Clise, the fourth-generation head of the family-owned developer. He declined to disclose terms of the sale, scheduled to be completed later this year. It would be Amazon’s first land purchase.