The mammoth $1.16 Billion Amazon sale of their South Lake Union headquarter went through last week, and was officially dubbed the largest commercial office sale of 2012, according to the Puget Sound Business Journal. The stats are tracked by New York research firm Real Capital Analytics, and the Amazon transaction was recently ranked as the 27th largest commercial office sale in US history. According to the Puget Sound Business Journal, Amazon had plenty of incentive to close the deal prior to the new year; Amazon made a $51 million deposit that the company would forfeit if the transaction did not close this quarter.
The sale certainly blows other substantial commercial transactions out of the park, with the next largest deal estimated at $868.6 million being a 1.2 million-square-foot building in San Francisco. The question still hangs in the air as to where all of the Amazonians will live around SLU once the expansion is full installed? Is there enough condos and rentals available in the neighborhood, or will it become overbuilt with highrises in upcoming years?