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Wells Pays $119 Per SF for Oklahoma City Asset

ATLANTA-The 128,500-sf, 100%-leased office building is 54% owned by Wells LP Fund XII and 46% owned by Wells Real Estate Investment Trust. Wells refuses to disclose the seller's name.

By Judith Schonbak | Updated on January 03, 2001

ATLANTA-Wells Real Estate Funds kicked off the new business year by adding another class A office property to its holdings. The Atlanta-based REIT purchased a 128,500-sf building in Oklahoma City, OK for $15.3 million or $119.06 per sf. Wells refuses to disclose the seller’s name.

The property is 100% leased. AT&T has 81% of the building and Jordan Associates, a regional advertising firm, leases the other 19%. AT&T has signed a 10-year lease. Jordan Associates’ existing lease has another eight years.

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