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
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