Bauer Sells Campus to Microsoft

Share this article:
Eddie Bauer Inc., a division of ailing Spiegel Inc., reportedly entered into a deal to sell its Redmond, WA, headquarters to Microsoft Corp. for $38 million.


Bauer, which has been on the block since last fall, simultaneously entered into a three-year lease for the same property. Terms of that deal include payment of $3 million for the first year, $3.12 million in the second year and $3.2 million for the third.


Located across the street from Microsoft's headquarters, the Bauer property includes 20 acres and three buildings with a combined 232,700 square feet.


The deal, which requires court approval, is part of the Chapter 11 bankruptcy reorganization that Spiegel, Downers Grove, IL, is undergoing. After two years, Bauer, or its new owner, can escape the lease at no cost.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

7 Ways to Take Your Marketing Strategy to the Big Leagues

7 Ways to Take Your Marketing Strategy to ...

A game-winning omnichannel strategy must be seamless, synchronous, and symbiotic.

Pet World's Multichannel Marketing Is a Whole Other Animal

Pet World's Multichannel Marketing Is a Whole Other ...

The family owned pet store redesigns its website to bring the in-store experience online.

Complexity's What Marketers Got, Simplicity's What They Want

Complexity's What Marketers Got, Simplicity's What They Want

Customer insights managers want campaign management tools to remain easy to use, even as they up their games with multi-layered campaigns.