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Principal Life Extends Lease at College Park

INDIANAPOLIS-Principal Life Insurance extends its lease to 2014 at College Park Plaza. The property, acquired last year by Wells REIT II, is 100% leased.

By Dana Dubriwny | Updated on August 07, 2006

(To read more on the net lease market, click here.)

INDIANAPOLIS-Principal Life Insurance has extended its lease to 2014 at College Park Plaza. The lease extension follows the earlier assignment of the lease to Principal Life from its affiliate, J.F. Molloy & Associates, which has been utilizing 55,000 sf of the 179,000-sf building at 8909 Purdue Rd.

“Having Principal on the new lease obviously enhances the credit picture at the property even further,” says Don Henry, managing director, asset management, Wells Real Estate Funds. He notes that Principal Life is rated “AA” by Standard & Poor’s.

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