Phoenix-based company buys Bellevue’s City Center Plaza

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.

May 18, 2010 7:26 pm
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.