Featured Property
Property Description
The property is an unparalleled, newly developed, Class A office tower located in the Central Business District of Bellevue. The property's office space is fully occupied, with 96% of this space leased through 2024 to Microsoft, one of the world's preeminent consumer brands. This particular office space is home to Microsoft’s Bing division. This acquisition fits Cole's business model of purchasing the highest-quality, "core" real estate, leased to high credit quality, brand-named tenants under long-term net leases.
Property Details
- Rental increases of 3% annually.
- Microsoft has made a significant investment above the landlord's tenant improvement allowance to upgrade the facility.
Date Acquired: July 9, 2010
Square Footage: 583,179
Industry: Software
Remaining Lease Term: 14+ years
Lease Type: NN
S&P Credit Rating: AAA
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