Wells REIT II buys Siemens Building

Property leased through 2011

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Wells Real Estate Investment Trust II Inc. recently acquired the four-story Siemens Quadrangle II building in Orlando, Fla. The value of the transaction was not disclosed. The 226,548-square-foot building, built for Siemens in 2001, is one of three adjacent Siemens buildings located at 11950 Corporate Blvd. at The Quadrangle office park. It is fully leased to the company until 2011. Falcon Real Estate Investment Co., which purchased the property from the developer in 2002, sold the property. This is the second acquisition in Orlando for Wells REIT II, which also owns the Baldwin Point office building on Lake Baldwin, with tenant Travelers Indemnity Co. Wells REIT II is a public nontraded REIT specializing in office properties. Wells REIT II now has 50 buildings in 17 states (including Washington, D.C.), totaling more than $2.6 billion (based on purchase price) and covering more than 11 million square feet. ...