Brenny [Unknown]'s questions to American Assets Trust Inc (AAT) leadership • Q1 2025
Question
An analyst identified as Brenny asked for an update on the leasing pipeline and occupancy outlook for American Assets Trust's renovated Bellevue assets and inquired if Seattle's Proposition 1A was driving increased tenant interest.
Answer
Steve Center, Head of Office, detailed significant leasing momentum in Bellevue. He noted a 29,000-foot lease at Timber Ridge bringing it to 97% leased and strong prospects at Bell Springs and City Center Bellevue. Center confirmed that issues in downtown Seattle are contributing to increased inbound tenant inquiries and tour activity for their Bellevue properties.