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700 Bellevue Way Northeast

TikTok Leases 132,000 SF Office Space In Downtown Bellevue From Kemper Freeman
LEASEDOffice

TikTok Leases 132,000 SF Office Space In Downtown Bellevue From Kemper Freeman

700 Bellevue Way Northeast

Building Size

132,000 SF

Asset Type

Office

Closing

Jan 15, 2024

AI

TikTok is set to lease over 132,000 square feet of office space in Downtown Bellevue, expanding its e-commerce hub into floors previously occupied by Microsoft. The property, located at 700 Bellevue Way Northeast in Bellevue, Washington, is an office building with a total area of 132,000 square feet.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Square Footage: 132,000
  • Address: 700 Bellevue Way Northeast
  • Market: Bellevue, WA

In this lease deal, the landlord is Kemper Development, represented by Kemper Freeman. On the other side, the tenant is Shou Zi Chew, the current CEO of TikTok. The lease agreement allows TikTok to expand its e-commerce operations by occupying the floors previously used by Microsoft.

Players

Kemper Development
Kemper DevelopmentLandlord

Bellevue Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93