Amazon to vacate downtown Seattle tower in April – Puget Sound Business Journal – The Business Journals Inc. (Nasdaq: AMZN) won’t renew its office lease at West 8th tower in Seattle’s Denny Triangle neighborhood, the company confirmed to the Business Journal. The lease comes up for renewal in April.
The decision isn’t related to the Seattle-based tech giant’s layoff of at least 2,300 local employees, an Amazon spokesperson said. Rather, it’s another sign that remote work is still going strong and leaving tech companies with more space than they need.
“This change is a result of the new way our employees work,” the spokesperson said.
Amazon occupies about 70% of the 539,000-square-foot West 8th tower, where it’s had offices since 2011. The 28-story building is at 2001 Eighth Ave.
About 2,000 employees will be moved to other Amazon office spaces throughout the Puget Sound region — the company also has sizable office spaces in Bellevue and Redmond.
Amazon is joining fellow tech giants Microsoft and Meta in jettisoning sizable leases from its real estate portfolio. Microsoft has said it will let go of at least roughly 1.7 million square feet on the Eastside in the next two years, while Meta is getting rid of space in Seattle’s South Lake Union and backing out of a building being developed in Bellevue’s Spring District.
Amazon has paused several development projects in Bellevue as well, but has not announced plans to back out.
Kilroy Realty Corp., a Los Angeles-based real estate firm, acquired West 8th for $490 million in September.
Though Amazon’s layoffs are projected to be the largest in its history, the company still has a sizable headcount in Seattle. Over 58,000 of its more than 91,000 employees in Washington state are based in Seattle, according to an internal headcount tool.
The company’s layoffs, while significant, won’t be make much of a dent in those numbers. Amazon is laying off 1,852 workers in Seattle and 448 in Bellevue out of its 10,000-employee workforce in that city.
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