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 | January 03, 2001 at 01:01 AM

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.

The property is 54% owned by Wells Limited Partnership Fund XII and 46% owned by Wells Real Estate Investment Trust. The average cap rate on this acquisition is 10.7%.

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