Wells REIT makes Maryland purchase

Wells Real Estate Investment Trust has completed the purchase of Shady Grove V, a class A office building located in Rockville, Md.

The value of the transaction was not disclosed.

The four-story property was fully leased to the General Services Administration at the time of sale.

Shady Grove V includes about 108,000 square feet of office space and is located in the I-270/Rockville submarket of metro Washington, D.C. It is one of six buildings in the 60-acre Shady Grove Executive Center.

Wells Real Estate Funds is a national real estate investment management firm.

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