Friday
September 19, 2014

Real Estate Sweetens Washington Post Deal

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Real Estate Sweetens Washington Post Deal

Entrance into the publishing business isn't the only thing Amazon CEO Jeff Bezos is getting out of his planned $250 million purchase of The Washington Post. As part of the acquisition, he'll also get a slew of offices, warehouses, and development land in the Washington, D.C., area. 

The Post also sold more than 700,000 square feet of industrial space and more than 60 acres of land to Bezos. 

“As has been the case with many newspaper publishing company sales, real estate controlled by the media firm is considered to be as much of an asset — or even more valuable — than the newspaper itself,” the CoStar Group reports.

Two of the largest industrial properties Bezos will acquire are Post printing facilities located in Springfield, Va. They average about $117 per square foot and could be worth more than $64.3 million, the CoStar Group reports. 

Bezos’ acquisition of the newspaper will not include its three primary real estate assets in D.C.’s central business district. 

“Those properties are still being actively marketed for sale,” the CoStar Group reports. “No asking price has been disclosed. Had those properties been included, the sale would have been an even bigger bargain.” 

Source: “All the Real Estate That’s Fit To Sell,” CoStar Group (Aug. 7, 2013)

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