Here are the landlords benefiting from Amazon’s tech workforce expansion

E-commerce behemoth inked new leases in 5 cities

TRD NATIONAL TRD ARCHIVE /
Aug.August 25, 2020 08:45 AM
Jeff Bezos (Getty)

Jeff Bezos (Getty)

Amazon recently announced plans to expand its tech workforce at the 660,000-square-foot Lord & Taylor building it recently bought in New York, and in five other cities across the country.

Amazon has inked leases totaling about 270,000 square feet in those office buildings in Dallas, Denver, Detroit, San Diego, and Tempe, Arizona.

Here is a rundown on Amazon’s landlords at those six locations:

Amazon — New York

The biggest expansion announced last week was at the Amazon’s own Lord & Taylor building on Fifth Avenue in Manhattan. The e-commerce giant bought the building from WeWork for $1.1 billion in March. It plans to use 630,000 square feet for its 600 new workers.

The acquisition added to Amazon’s nearly 3.5 million square feet of office space it already owns in Seattle, New York City and in Arlington and Herndon, Virginia, according to data from commercial real estate data provider CompStak.

Piedmont Realty Trust — Dallas

The Georgia-based real estate investment trust owns the Galleria Towers in Dallas, a 1.5-million-square-foot trio of office towers. Amazon will add 100,000 square feet of office space to its existing 100,000 square feet there, as it brings in 600 new tech workers. Piedmont acquired the complex in February, paying $400 million.

Hines — Denver and Tempe, Arizona

Hines owns or partially owns two office buildings where Amazon plans to grow its tech workforce. The Houston-based firm owns 1515 Wynkoop Street in Denver, a 307,000-square-foot office tower where Amazon is adding 20,000 square feet — and 100 tech workers — onto its existing 140,000-square-foot lease there.

Amazon will add 90,000 square feet to its lease at its Phoenix hub, 100 Mill, a tower just east of the city in Tempe, Arizona. Hines co-owns with Atlanta-based REIT Cousins Properties. That will add 500 new workers to the 280,000-square-foot office development.

Redico Management — Detroit

In Detroit, Amazon plans to add 25,000 square feet and 100 tech workers to 150 West Jefferson Avenue, a 506,000-square-foot office building that Redico owns.

San Diego office

Amazon inked a 40,000-square-foot lease at an unnamed location in San Diego, which will bring 200 jobs.


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