Wells REIT II buys Northpointe Corporate Campus

Owner seeks tenant for 50% of property

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Wells Real Estate Investment Trust II today announced its acquisition of Northpointe Corporate Campus, a new class A office development in suburban Seattle. Opus Northwest LLC sold the two-building complex in Lynwood, Wash., for an undisclosed price. At the time of sale, one building was fully leased to Comcast to 2017, and the other was ready for leasing. Northpointe Corporate Campus includes two two-story buildings on 25th Avenue -- the Comcast building, approximately 87,000 square feet, and its sister building, about 69,000 square feet. The latter has the flexibility for a single tenant or multiple tenants, and includes 100 underground parking spaces. ...