Amazon Receiving Offers For Its HQ2 From the Richest Developers In the US
Amazon had announced a few months earlier it was considering building an HQ2 but the location of the second headquarters of the global retailer hadn’t been decided. CEO Jeff Bezos has been receiving insane offers for the construction of the new headquarters which is reportedly worth $5 billion. Offers have been pouring in from developers who are vying for the contract but none are as insane as the one proposed by Donald Bren who is the richest developer of real estate in the United States.
Proposals for the second headquarters of Amazon have been reaching a fever pitch and are arriving from cities throughout the United States and Canada to become the second location for the online giant’s headquarters. However the richest developer from Irvine, California, Donald Bren has perhaps taken the cake by making an offer to finance the entire project worth $5 billion by himself. The offer may look insane but is unlikely to be refused even by insane businessmen.
What is Bren’s offer?
Donald Bren is the owner of the Irvine Company and a multibillionaire with a net worth of $17 billion. He is also the president of Irvine Company which holds about 20% of the land in Orange County. His investments are spread across retail and office space, golf courses, apartment space and hotel Resorts.
Donald Bren was gracious enough to make an offer to Jeff Bezos to finance the entire project which Amazon believes will require an investment of $5 billion. The offer has been made subject to Amazon choosing Irvine at the location for its second headquarters. The offer which has been made is also attractive because Amazon will not be required to make capital investments for the acquisition of land or buildings or get into the trouble of seeking entitlements to build the new business campus they are planning for. Bren has stated in his letter that his company has long-term assets in real estate as well as capital resources along with the flexibility needed to deliver the workspace needed by giving Amazon the option of choosing lease durations.
The Irvine Company has a lot of investments in the region and has also invested more than six decades for planning 93,000 acres of land by overseeing and designing the development of the largest city in the United States Irvine California.
Irvine is considered as the epicenter of Orange County and is a coastal community which is affluent and has to its South, San Diego and to its north is Los Angeles. Presently the population of Irvine is reportedly in the region of 250,000.
How can Amazon change Irvine?
Amazon has mentioned that it’s second headquarters will eventually be home to white-collar employees numbering 50,000 who will be making an average of over $100,000 a year. The income which has been mentioned is higher than the average income for employees living in Irvine. It is quite likely that many employees may be chosen from the local community because it has been ranked by different sources as the city which is growing rapidly, is safe and healthy as well as having highly educated individuals that are occupying the largest city.
Amazon already has an outpost in the city employing 1200 people and is part of various companies like Google, Blizzard Entertainment, UBS and Verizon. The largest pool of STEM workers within the United States is also located in Southern California according to the proposal forwarded by the Irvine Company. Orange County is home to the University of California which is the highest ranked public university and awards 42% of the STEM degrees to its undergraduate students.
The offer made by the Irvine Company will be hard to resist because it is indeed a one-click shopping opportunity for the global retailer where everything they need is available on demand. Amazon can hire qualified staff from the region without going through the trouble of waiting for applications to pour in from elsewhere even as they offer higher than average wages to the people of Irvine.
If the offer made by Donald Bren is accepted by Jeff Bezos it would be an investment as none other for the global retailing giant in a location which also has beautiful weather and spectacular beaches. It would be insane on the part of Jeff Bezos to refuse the offer considering he can simply establish the HQ2 without investment and begin working from the chosen location.
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