Wells REIT II buys Wells Fargo building

Purchase marks company's first in Wisconsin

LIVE NOW: Inman Connect San Francisco
Tune-in now to catch the livestream. Don't miss this chance to see real estate leaders tackle the industry's top problems.

Wells Real Estate Investment Trust II on Tuesday announced its first purchase in Wisconsin: a 230,000-square-foot office property in Milwaukee.

Washington Mutual sold the three-story facility, which is fully leased to Wells Fargo until 2006.

The boomerang-shaped, 230,000-square-foot building, located at 11200 West Parkland Ave., was built in 1990 and recently renovated.

According to a press statement, the property was acquired at a price "below the projected replacement value."