Wells Real Estate Investment Trust II this week announced it made its first purchase in New York — a 25-story, class A+ office building in midtown Manhattan.
The value of the transaction was not disclosed.
Wells REIT II acquired the property — 222 East 41st St. — from Zeta-Ceres LP of Katonah, N.Y. The building comprises 391,000 square feet.
At the time of sale, the property was 97 percent leased; the principal tenant is Jones Day, the nation’s fourth-largest law firm, which holds a long-term lease.