Cataloger/retailer Eddie Bauer is selling its headquarters in Redmond, WA, to computer software empire Microsoft Corp. for $38 million. The deal is pending bankruptcy court approval, as part of Bauer parent firm Spiegel’s bankruptcy reorganization.
Per the terms of the proposed sale, Bauer would become a tenant of Microsoft’s in the 232,000-sq.-ft., three-building facility for up to three years, and it could opt out of the lease after two years. As with other deals Spiegel has made in selling its properties, including the Spiegel and Newport News catalogs, Microsoft is the “stalking horse” for the Bauer property sale. Other possible buyers can outbid Microsoft for the property.