HOUSTON-Wells Real Estate Investment Trust II Inc. has acquired Energy Center I, a 332,000-square-foot class A office building, for $94 million.
The Norcross, GA-based investor bought the 13-story tower from a partnership comprised of Trammell Crow Co. and Principal Real Estate Investors. The acquisition was funded with proceeds raised from Wells’ ongoing public offering.
Developed by Trammell Crow and completed in 2008, Energy Center I is entirely leased to Foster Wheeler USA Corp., a global construction contractor offering full engineering, procurement and construction services.
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