Eastpointe Corporate Center was built in 2001 by Opus at 22833SE Black Nugget Rd., which is off Exit 17 from Interstate 90. Thebuilding owner, Wells REIT Inc., acquired the building in late 2003for $30 million plus closing costs, according to SEC filings.

Boeing leased the entire building from Opus in 2001. When Wellsacquired it in December 2003, Boeing was paying a base annual rentof $3.8 million, which translates to $24 per sf. Three months ago,Boeing renewed for five more years, but only for about 45% of itsprevious commitment. Microsoft's lease for the remainder commencesNov. 1.

The current rental rate for both Microsoft and Boeing, given thelack of availability along the I-90 corridor, is believed to beright around the full-service asking rate of $26.50, ($18.50 netplus $8.00 for operating expenses). The average full-service askingrate for class A space on the suburban Eastside is $27.77,according to the latest data from Cushman & Wakefield.