Microsoft, Boeing sign leases with Wells REIT

Companies implement long-term strategy

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Wells Real Estate Investment Trust Inc. on Friday announced it has signed new lease agreements with Microsoft Corp. and the Boeing Co. for both companies to lease space at its Eastpointe Corporate Center near Seattle. The total value of the transactions was not disclosed. Microsoft, based in Redmond, Wash., has signed a five-year lease for 87,000 square feet at Eastpointe, on Black Nugget Road in nearby Issaquah, effective Nov. 1. Boeing, a tenant at Eastpointe since 2001, recently signed a new lease for the remainder of the 158,000-square-foot building, also to 2011. Eastpointe Corporate Center is a five-story, class-A office property built in 2001. Wells REIT acquired the building in 2003. Wells REIT is a public, nontraded real estate investment trust specializing in office properties, which closed to new investors in 2003. ...