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New York REIT Buys Central Oregon Property

REDMOND, OR-Lexington Corporate Properties Trust spends $16.4 million on a 77,484-sf call center here that is net leased through 2018 to a subsidiary of T-Mobile USA.

By Brian K. Miller | Updated on February 25, 2004

REDMOND, OR-Lexington Corporate Properties Trust has acquired a new 77,484-sf call center ng here that is net leased through 2018 to a subsidiary of T-Mobile USA. The New York-based office REIT paid T-Mobile $16.4 million for the 13.1-acre property located at 2999 S.W. Sixth Ave.

T-Mobile acquired the land for the building from MHi Real Estate Development, a Redmond-based firm that is developing the Campus Within the Park project at the 60-acre Airport Business Center near the Redmond Airport. The cost of constructing the facility was $9 million, but T-Mobile officials said the total development cost was upward of $20 million.

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