The Illinois developer has sold a 52,125-sf building and a 30,050-sf structure for $11.7 million, or $142.37 per sf, to Atlanta-based Wells Real Estate LP Fund XIII and Fund XIV. The lead tenant is Siemens Shared Services LLC which occupies the entire 52,125-sf building on an estimated 10-year lease, according to area brokers.
The buildings are at 3500 and 3626 Quadrangle Blvd. within the 400-acre Quadrangle Corporate Center adjacent to the University of Central Florida and 12 miles northeast of Orlando International Airport.
"This is a milestone for the Wells Limited Partnership program, since it is the first acquisition in a joint venture with Wells LP XIV,' says Wells' chief investment officer David Steinwedell. Wells manages $4 billion in assets for 125,000 investors nationwide.
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