Bel-Spring 520 is currently approximately 69% leased to a diversified tenant base with contractual lease rates that the Company views as below prevailing market rates for the submarket.
The two-building property features a campus-setting in a natural landscape with immediate highway access and a diverse rent roll of professional service, technology and financial service companies. The property is well amenitized with a food market, showers and lockers, conference center, bike storage and renovated atrium lobbies, with an opportunity to make additional improvements comparable or superior to competing office projects, and is walking distance to the future
The purchase price of approximately
About
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, they are not guarantees of future performance. Currently, one of the most significant risk factors, is the potential adverse effect of the current COVID-19 pandemic on the financial condition, results of operations, cash flows and performance of the Company, its tenants and guests, the real estate market and the global economy and financial markets. The extent to which COVID-19 impacts the Company, its tenants and guests will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the Company’s most recent annual report on Form 10-K, and other risks described in documents subsequently filed by the Company from time to time with the
Source:
Investor and Media Contact:
Executive Vice President and Chief Financial Officer
858-350-2607
Source: American Assets Trust, Inc.
American Assets Trust, Inc.
Symbol: AAT
CIK: 1500217
Exchange: NYSE
Founded: 1967 (57 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Diversified, Office, Residential, Hotel, Retail
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
Latest Price: $21.88
High: $22.32
Low: $21.88
Open: $22.20
Previous Close: $22.23
Volume: 97,466
52-Week High: $23.19
52-Week Low: $16.37
Last updated: 2024-12-22 - v1.3