Joint venture dumps O.C. office space

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A joint venture between Wells Real Estate Fund VIII L.P., Wells Real Estate Fund IX L.P. and a subsidiary of the Wells Real Estate Investment Trust Inc. has sold an office building in Irvine, Calif. The value of the transaction was $12.5 million. The 65,006-square-foot property, located at 15253 Bake Parkway, was fully occupied at the time of sale by Gambro Healthcare Inc. under a new long-term lease. CTA LP purchased the property from Wells. Colliers Seeley and Zuvich Cannon Associates represented Wells in the transaction, while Westbridge Realty Advisors represented CTA. Wells Real Estate Funds is a national real estate investment management firm that purchases real estate on behalf of Wells-sponsored investment programs. *** What's your opinion? Send your Letter to the Editor to