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REIT Pays $10M for T-Mobile Call Center

MISSION, TX-Lexington Corporate Properties Trust has picked up a 75,016-sf bilingual call center with a tenant in place through June 2015. The $10.1-million border town sale went from start to finish in just a couple months.

By Jennifer Brenner Andrade | Updated on February 04, 2004

MISSION, TX-T-Mobile’s flagship, bilingual call center in a Texas border town has attracted the eye of Lexington Corporate Properties Trust of New York City, which put up $10.1 million in cash for the 75,016-sf facility. The single-tenant lease is good through June 2015.

Natasha Roberts, the REIT’s vice president of acquisitions, tells GlobeSt.com that Lexington liked the tenant’s credit standing, the lease length and the Mission market, which boasts a large, bilingual workforce. She says the property was bought with cash raised from last year’s sale of common and preferred stock, but long-term, permanent debt will be placed within 30 days.

Hunt Power LP of Dallas developed the center in 2002, signing T-Mobile to a 12-year lease in May 2003. The facility is situated on 13 acres at 3711 San Gabriel Rd.

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