Wells paid Haskell Co., a Jacksonville, FL-based general contractor, $135.69 per sf for the 100%-leased building on 9.77 acres in Sarasota's main growth corridor.
The property has 759 parking spaces and is leased through 2009 to the accounting firm's technology services division which has 800 employees providing computer expertise to 85,000 Arthur Andersen employees in 84 countries.
The acquisition represents 3% of the Wells REIT portfolio, according to David Steinwedell, the firm's managing director, acquisitions and dispositions.
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