Saturday, December 22, 2007

Amazon in agreements to move headquarters Inc said on Friday it signed real estate lease deals to move its corporate headquarters and consolidate its office space in Seattle after 2011.

Amazon will occupy some 800,000 square feet of office space for about $700 million under agreements with entities associated with City Investors LLC and Schnitzer West LLC, the company said in a U.S. Securities & Exchange Commission filing released on Friday.

That charge includes rent, operating expenses and tenant improvements.

On completion of development in 2010 and 2011, Amazon will begin leases with terms of up to 16 years, it said.

Amazon will also have the option to occupy up to another 800,000 square feet for up to about $800 million, subject to a $40 million termination fee if it elects not to occupy the additional space.

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