Wells Real Estate Investment Trust II acquired a 393,000-square-foot building in Gaithersburg, Md.
The value of the transaction was not disclosed.
The two-story building, built in 1986, is fully leased to IBM. Situated on 45.5 acres, the property is bounded by Interstate 270 to the west and Route 355 to the east. Among its features is a state-of-the-art, highly secured data center.
Holliday Fenoglio Fowler L.P. represented the seller in the transaction. Wells was represented in-house.
Wells Real Estate Funds is a national real estate investment management firm that purchases real estate on behalf of Wells-sponsored investment programs.
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