In 2019, Beaumont partnered with a Los Angeles based investment firm to acquire a four-building, 262,703 SF, Class “A” office campus located in the Bellevue submarket of Seattle, Washington. The property is 100% leased and anchored by T-Mobile and Mindtree. Both tenants executed new 10-year leases in January, 2019.
T-Mobile, with a collective subscriber base of over 110 million customers, is the second largest and fastest growing wireless telecommunications services provider in the United States. The company currently has 75,000 employees. Mindtree is a multinational information technology and outsourcing company with approximately 35,000 employees and annual revenue of $1.4 billion. The office campus acquisition provided Beaumont with an opportunity to purchase a high quality office campus in a growth market with minimal vacancy, anchored by established tenants and providing both consistent stabilized cash flow and meaningful downside protection.
