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.
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