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City Center Plaza Sold for $375M

Cole Real Estate Investments, a Los Angeles-based real estate firm, announced that it has completed the sale of City Center Plaza, which houses the headquarters for Microsoft's Bing.

City Center Plaza, the downtown Bellevue building that houses Microsoft Bing, has been sold for nearly $375 million to a Los Angeles real estate firm, the owner announced last week.

City Center Plaza is a 583,000-square-foot, 26-story Class A office tower in downtown Bellevue that is across the street from City Hall and the Bellevue Transit Center.

Cole Real Estate Investments announced it completed the sale of City Center Plaza to an affiliate of Los Angeles-based CommonWealth Partners LLC for $374.7 million, according to a Cole press release.

Microsoft Bing occupies 96.3 percent of the building, according to a Cole press release. Other tenants are Tully's and El Gaucho.

Cole purchased the building in July 2010 for $310.0 million, and is capitalizing on current market opportunities to capture value for its shareholders with the sale, according to the press release.

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