Wednesday, February 27, 2019

"Amazon backs out of massive Seattle office tower as questions swirl about growth plans"

From GeekWire:

Updated with Amazon’s confirmation below.
Amazon has placed a high-profile Seattle office project on the sublease market, signaling plans to scale down its growth in its hometown.
A flier marketing Amazon’s space in the Rainer Square project. (JLL Images.)
A marketing flier obtained by GeekWire confirms that the tech giant is seeking new tenants for its office space in Rainier Square, a building under construction that will one day be the city’s second-tallest skyscraper. Amazon had leased all 30 floors of office space in the building. After weeks of rumors, the listing was made official over the weekend, according to real estate brokers familiar with the marketing efforts. Amazon will make all of the office space it leased in Rainier Square available to other companies.

The skyscraper project, once an emblem of Amazon’s ambitions in Seattle’s urban core, now becomes a symbol of its uncertain future in its hometown. The move follows Amazon’s decision to back out of its HQ2 project in New York City after opposition there, amid signs that the company will focus its Seattle-area growth in nearby Bellevue, Wash.

Real estate company JLL is listing the space on the company’s behalf, according to the flier.

Earlier this month, a real estate broker who represents tenants in downtown Seattle told GeekWire that Apple, Dropbox, and Oracle were “circling” as possible tenants for Rainier Square, which is located at 4th and Union Street.

Amazon pulling out of Rainier Square follows the company’s surprise decision to nix plans to open a 25,000-person office in New York. Earlier this month, Amazon canceled its New York “HQ2,” blaming elected officials who vowed to fight the deal....MORE
Related at GeekWire:
Amazon’s future in Seattle uncertain as neighboring city looks more and more like HQ2