Wells REIT grows Michigan holdings

Picks up 14-acre office property

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Wells Real Estate Investment Trust purchased a 210,000-square-foot office building located in Auburn Hills, Mich. The value of the transaction was not disclosed. The class A property is located at 1075 West Entrance and is situated on 14 acres near the intersection of two major highways, M-59 and I-75. The four-story building is divided into two large rectangular sections for office use, and parking can accommodate five cars per 1,000 square feet of space. Electronic Data Systems Corp. (EDS) occupies the building on a long-term lease agreement. Wells Real Estate Funds is a national real estate investment management firm that purchases existing class A office and industrial properties. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....