SAP America will lease the top two floors of the nine-story building. The lease will begin on Feb. 1, 2008. Bert Collins, vice president of asset management for Wells Real Estate Investment Trust II, tells GlobeSt.com that it could not disclose lease rates for the deal but that the building's average net lease rate is $18 per sf.

"For us, it is really a home-run in terms of accomplishing what our investment strategy is," he says. The lease with SAP America "pre-fills an upcoming vacancy that we would have," Collins says. "Oracle is the prime tenant on this particular space."

Wells Real Estate Investment Trust II (Wells REIT II) was represented internally by Collins, with Bill Elwood and Pete Adamo of CB Richard Ellis. Wells REIT II owns 55 buildings in 18 states and specializes in class A office properties. SAP America, Inc. is a software company with headquarters in Newtown Square, PA. "We provide solutions for small, medium and large-size businesses in terms of their applications processing," Janice Johnson, director of external communications for SAP America, tells GlobeSt.com.