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Phoenix-based company buys Bellevue’s City Center Plaza

Published 4:26 pm Tuesday, May 18, 2010

City Center Plaza under construction in downtown Bellevue. The building was completed in 2008.
City Center Plaza under construction in downtown Bellevue. The building was completed in 2008.

Phoenix-based Cole Credit Property Trust III has agreed to purchase Bellevue’s City Center Plaza for $310 million, according to a filing from the group.

Microsoft occupies all but one floor of the 26-story building, located downtown at NE Sixth Street and 110th Ave. NE. The software giant’s lease expires in June 2024.

Boston-based Beacon Capital Partners previously owned City Center, but the company is projected to fall behind on debt payments for its Seattle-area properties, according to The Seattle Times and a report from Standard & Poor.

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