Wells REIT extends lease for Panasonic Avionics

Wells Real Estate Investment Trust Inc. has signed Panasonic Avionics Corp. - previously Matsushita Avionics - to a five-year lease extension at its facility in Lake Forest, Calif.

The value of the transaction was not disclosed.

Panasonic Avionics occupies 100 percent of the 145,000-square-foot office building, located at 26200 Enterprise Way, which was constructed as a build-to-suit for Matsushita by Wells in 2000. Panasonic Avionics, a supplier of in-flight entertainment and communication systems, is a subsidiary of Matsushita Electric Corp. of America.

Wells Real Estate Funds is a national real estate investment management company that purchases real estate on behalf of Wells-sponsored investment programs.

***

What's your opinion? Send your Letter to the Editor to opinion@inman.com.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.