Microsoft drops $250 million on Redmond campus expansion (Update: confirmed)

Microsoft has reportedly paid close to $250 million office complex near its Redmond headquarters. According to GeekWire, the deal includes the 725,000-square-foot Daytona Laguna complex, which Microsoft purchased from Blackstone, a private equity firm (via OnMSFT).

Update 7 PM ET: Microsoft is now confirming with us that they have purchased the entire Daytona Laguna office complex.

The new complex would add more office space as Microsoft gears up to start a major overhaul of its Redmond campus. The project, which the tech giant plans to start this fall, will see 18 new buildings erected and 2.5 million square feet of new office space added to the campus. Microsoft is also planning to tear down older buildings that no longer fit its needs. Altogether, the project will net an increase from 125 buildings today to 231 once it is complete.

Also included in the overhaul will be the addition of a 2-acre plaza that can hold up to 12,000 people, walking trails, soccer and cricket facilities, retail spaces, and an underground parking facility.