The building is 100% leased, through November 2010, to Pacificare Health Systems, a health-care services company based in San Ana, CA. It operates a call center at the building.
Tampa-based Opus South was the seller The price was not disclosed, but the appraised market value was $12.4 million., according to the Bexar Appraisal District. Opus South had constructed the building in 2000 as a build-to-suit for Pacificare.
The two-story 6200 Northwest Parkway building is situated in San Antonio's University Park, a master-planned community. The property is close to Interstate 10 and the South Texas Medical Center.
Wells said the purchase is indicative of its strategy of buying prime properties with long-term leases to credit-worthy tenants. It marks Wells' 14th transaction for the year and its 53rd overall. In March, Wells bought the Transocean/Newpark building in Houston's Energy Corridor west of the downtown.
Wells' other Texas properties are the 157,792-sf complex leased to IKON Office Solutions Inc., a 119,040-sf building leased to Boeing Co., and a 200,000-sf structure leased to Stone & Webster, a subsidiary of the Shaw Group, all in Houston; a 118,018-sf building in Plano; and 40,000-sf building in Dallas; and a 292,000-sf building in Allen.
Pacificare is one of the country's largest health-care services companies. It has operations in eight states and serves about 3.4 million members.
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