The office will manage two Twin Cities buildings -- US Bancorp Center and 7500 Setzler Pkwy. US Bancorp Center at 800 Nicollet Mall, was developed in 2000. The 929,000-sf class-A building is home to US Bank, the eighth-largest financial services holding company in the US, and Piper Jaffray. Meanwhile, 7500 Setzler Pkwy. is a build-to-suit industrial/distribution property fully leased to R.R. Donnelley and purchased by a joint venture of Wells Real Estate Limited Partnership Fund XIII and Fund XIV in March.

Wells is retaining key personnel from the U.S. Bancorp Center management team, which includes Kevin Fossum, regional manager; Bruce Koehler, senior property manager; and Stephanie Stassen, a customer service representative. All were formerly with Chicago-based Equity Office Properties Trust. The management office is located on the 24th floor of US Bancorp Center, which is centrally located to the entire Twin Cities market.

The Wells REIT portfolio now includes 112 class-A office and industrial properties in 43 markets. The average credit rating for those tenants, which are rated by Moody's Investors Service or Standard & Poor's, is "A," and the portfolio is 97% leased.