The Amazon Influence on Commercial Real Estate In Seattle

Amazon is preparing to move into more than 540,000 square feet of additional office space in three existing buildings north of downtown Seattle - in the Denny Triangle, Belltown and on Elliott Ave. W. - according to city permits and county property records. Amazon has also signed a lease with Paul Allen's Vulcan Inc. for space in a newly renovated building at Republican Street and Yale Avenue North. "We could have built a suburban campus," Amazon CEO Jeff Bezos said, noting that a location outside of the city might have saved the company money but thought it would have been the wrong decision.

The company's influence also extends beyond the office sector. Owners and developers of apartment buildings, condo towers, hotels and retail space are cashing in on the company's growth as well.

While there's no data, the conventional wisdom is that the typical Amazonian is young and well-paid. Many come from out of state.  Once Amazon's employees are hired, they seem inclined to city living.  "Amazon uses their urban campus and the in-city lifestyle as an effective recruiting tool," says Dean Jones of brokerage Realogics Sotheby's International Realty, "and that's good for downtown housing."