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Wells Buys 238,600-SF Mount Vernon Place for Estimated $168 per SF

ATLANTA-The estimated $40 million deal calls for Internet Security Systems of Atlanta leasing the two existing buildings for 10 years at an estimated aggregate rent value of $47.7 million, one of the biggest office leases signed in Atlanta this year, area brokers familiar with the Barfield-Mount Vernon Highway submarket tell GlobeSt.com.

By Marita Thomas | Updated on July 02, 2002

ATLANTA-Locally based-Wells Real Estate Investment Trust has acquired Internet Security Systems’ three-building, 238,6000-sf headquarters from Atlanta-based Griffin Co. for an estimated $40 million or $168 per sf.

In a two-phase transaction, Wells bought two completed, class-A office buildings and a 929-car parking deck at the ISS campus at Barfield Road and Mount Vernon Highway.

Known as Mount Vernon Place, the campus was begun by Griffin for ISS in 1999. ISS has signed a 10-year lease for the two-building first phase of the property and will move in this August.

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