American Assets Trust, Inc. Acquires Bel-Spring 520 Office Campus in Bellevue, Washington
Bel-Spring 520 is currently approximately 69% leased to a diversified tenant base with contractual lease rates that the Company views as below prevailing market rates for the submarket.
The two-building property features a campus-setting in a natural landscape with immediate highway access and a diverse rent roll of professional service, technology and financial service companies. The property is well amenitized with a food market, showers and lockers, conference center, bike storage and renovated atrium lobbies, with an opportunity to make additional improvements comparable or superior to competing office projects, and is walking distance to the future
The purchase price of approximately
Forward Looking Statements
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Executive Vice President and Chief Financial Officer
Source: American Assets Trust, Inc.