Wells REIT II completes first major acquisition

Wells Real Estate Investment Trust II the purchase of its first property, Weatherford Center, a 260,000-square-foot, class A office building located in Houston, Texas.

The value of the transaction was not disclosed.

The 12-story building, located at 515 Post Oak Blvd., was 100 percent occupied at the time of sale and is the headquarters of Weatherford International Ltd., a provider of equipment and services used for the drilling, completion and production of oil and natural gas wells.

Wells Real Estate Funds is a national real estate investment management company that purchases existing class A office and industrial properties.

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