Wells REIT II builds Texas portfolio

Wells Real Estate Investment Trust II Inc. has completed the purchase of MacArthur Ridge I, an approximately 250,000-square-foot office building in Irving, Texas.

Neither the identity of the seller nor the value of the transaction was disclosed.

The six-floor, class A property is located at 919 Hidden Ridge on approximately 6.5 acres.

Constructed in 1998, MacArthur Ridge I was 100 percent occupied at the time of sale by Verizon Corporate Services Group Inc., a subsidiary of Verizon Communications, a provider of communications services.

With this acquisition, Wells REIT II now has 38 buildings in its portfolio in 15 states (including the District of Columbia), totaling close to $2 billion (based on purchase price) and covering 8.5 million square feet.

***

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.