New Headquarters for Expedia Means a New Lease for Amazon
As Expedia shifts its headquarters to Seattle, Amazon sees an opportunity to expand in Bellevue. Expedia has made plans to relocate to a new waterfront headquarters in Seattle in 2019. This move will allow Amazon the opportunity to occupy the more than one million square feet and will add capacity for an additional 2,500 employees by 2020.
Expedia’s plans to move have been in the works for some time. They first announced plans in 2015, paying biotech giant Amgen $229 million for its prized waterfront campus on Elliott Bay. Since that time, Expedia has also obtained a Major Phased Development permit from the city of Seattle. This will allow them 15 years for the development of the 1.9 million square feet of office, a longer period than normal permits. The original build out concept included redeveloping the four lab buildings and building a new 600,000 square foot structure. The company has since decided to scale back on building the new structure – for now.
The retail giant is the ideal candidate to take over the Expedia building. As one of the fastest growing tech giants, with no plans of slowing, office space is required to keep up with business demands. Amazon has signed a 16-year lease, beginning in 2020, for more than 400,000 square feet in the tower.
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