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by CareyBot

Wells Real Estate Funds this week announced its acquisition of 3000 Park Lane, a class A office building in suburban Pittsburgh, Pa. A U.S.-based real estate investment trust sold the building in an off-market transaction for an undisclosed price. The five-story, 105,000-square-foot property, constructed in 1989, is located in the Parkway West Corridor submarket in North Fayette Township. At the time of purchase, Intracorp, a subsidiary of insurance giant Cigna Corp., was the principal tenant. Wells Real Estate Funds, based in suburban Atlanta, has approximately 39 million square feet of space in its real estate holdings. ...