9/18/2007

Wells REIT buys Pennsylvania office property

by
Wells Real Estate Investment Trust II has acquired a three-story office property in Wayne, Pa., from Grosvenor Investment Management U.S. Inc. for an undisclosed price.

Michael Blunt and Robert Fahey of CB Richard Ellis represented the seller.

The 114,000 square foot office property is located at 1200 Morris Dr. in the Chesterbrook Corporate Center, an 865-acre master-planned community.

The office property is 100 percent leased to Shire Pharmaceuticals, a United Kingdom global specialty biopharmaceuticals company. Shire holds the lease until 2017.

Wells Real Estate Funds is a national real estate investment company based in suburban Atlanta.

GIM is part of Grosvenor Fund Management, an international property development, investment and fund management group.

Address: 1200 Morris Dr., Wayne, Pa.

Size: 115,000

---

Filed Under: Office

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

* - Required fields Subject: * Message: * Contact Name: * Contact URL: Contact Email: * Write the characters in the image above:

Related Headlines

• Colliers International welcomes three brokers in California - 5/29/2009
• Texas hotel sells for $4.275M - 5/29/2009
• Massey Knakal lists NoHo retail building for $5.95M - 5/29/2009
• California industrial building sells for nearly $3 million - 5/29/2009
• NAI facilitates sale of Alaska mixed-use building - 5/28/2009
• Long Beach retail center commands $6.05M - 5/28/2009
• Florida land fetches $2.725M - 5/28/2009
• Marcus & Millichap list Virginia retail store for more than $10.2M - 5/28/2009
• Colliers Arnold stays busy in Tampa - 5/27/2009
• Colliers sells two buildings in California - 5/27/2009