Wells Real Estate Investment Trust Inc. has signed the United States Office of the Comptroller of the Currency (OCC) to a five-year extension of its lease at One Independence Square in Washington, D.C. The lease extension commences June 1, 2006.
The value of the transaction was not disclosed.
The OCC occupies 100 percent of the class A office property, which consists of 322,984 rentable square feet. The OCC is an agency of the U.S. Treasury Department that charters, regulates and supervises all national banks. It also supervises the federal branches and agencies of foreign banks.
One Independence Square was constructed in 1991 and purchased by Wells REIT in November 2002. The property has served as the headquarters of the OCC for 14 years.
Wells Real Estate Funds is a national real estate investment management company that purchases and manages real estate on behalf of Wells-sponsored investment programs.
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