Tuesday, February 21, 2012

Amazon Triangle

Meanwhile in Seattle, Clise Properties, which owns about two-thirds of the Denny Triangle, has sold a big chunk (three blocks to be precise) to Amazon.  Amazon intends to build a big office tower on each block and fill them with cube farms, managers, and executives.  I don't know how to think about this.  My first thought is that Paul Allen better invite Jeff Bezos to his next barbecue, because this has to boost Allen's South Lake Union play.  My second thought is that, if Amazon can't fill this space, it's going to enter the leasing market, which will further exacerbate downtown vacancy rates.  My third thought, at least for now, is that, if Amazon can fill this space, the physical bookstore market must be spinning in at terminal velocity, which saddens me to no end.  I'll always want a store I can actually walk into.

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