There have been rumors circulating that Amazon is looking into purchasing some of the Clise family’s properties in the Denny Way triangle. The deal has been kept very quiet and few knowledgeable Real Estate sources have even heard explicit details on how much they’re planning on sweeping; if they’re planning to purchase at all. Amazon is quickly growing out of their South Lake Union headquarters, and is said to need an additional 2 million square feet over the next five years. With the company expanding in a tight knit area like SLU, moving into a different neighborhood would make sense, as it can be difficult to purchase connecting properties and prices will have skyrocketed because seller’s know they’re in high demand. The Clise properties are near Amazon’s South Lake Union campus, in areas like Queen Anne, Capitol Hill, and Belltown. Sweeping up larger properties in other neighborhoods would certainly gentrify the area; Amazon has totally changed the vibe of South lake Union, with new swanky restaurants, and high end amenities.
The long unfinished condominium project, Volta, on 1st and Bell Street in Belltown, was resold to Connell Real Estate & Development of New Jersey this month. The Volta complex was repossessed after the developer defaulted on a construction loan. Lender East West Bank put the property on the market for sale earlier this year. The 34-unit building sold for $8 million. See the full Seattle Times report here.