Amazon.com, Inc. (NASDAQ:AMZN) is shopping for some expensive new digs in New York.
The Wall Street Journal reported last week that the e-tailer aims to expand from the 100,000 square feet of office space it occupies in Manhattan. Amazon.com Inc. (NASDAQ:AMZN) reportedly wants to boost its footprint to as much as five times that square footage, making for one of the largest corporate expansions in the city in years.
But it would be just another real estate record for Amazon.com Inc. (NASDAQ:AMZN). Back in October the company spent $1.4 billion to buy the nearly 2-million-square-foot headquarters that it had been leasing in Washington state. That purchase was so big that The Seattle Times called it “arguably the richest office deal in Seattle’s history.”
Thanks to the huge price tag on the deal, Amazon.com Inc. (NASDAQ:AMZN) capital expenditures rose to $3.8 billion in 2012, or 111% higher than the year before. It was also a major drag on free cash flow, which was down by 81% versus 2011.
There’s a bit of a trend of tech companies investing heavily in their office spaces right now. Google Inc (NASDAQ:GOOG) is looking to rebuild its Googleplex headquarters from the ground up. The company just shared early drawings of the project with Vanity Fair. Spanning over 1 million square feet, it is still laid out so that no employee will be more than a 2.5-minute walk from any other employee.
NVIDIA Corporation (NASDAQ:NVDA) also just unveiled plans for its new headquarters. The company aims for the building to be nothing less than a symbol of NVIDIA’s vision. Like Google’s plan, this one prioritizes the ease of communication. NVIDIA says the building was designed “above all for collaboration.”