Wells officials would not disclose the purchase price, occupancy or other terms of the transaction. But local brokers familiar with the suburban office market tell GlobeSt.com One Glenlake is about 71% occupied. Dallas-based Granite Properties Inc. is Pope & Land's partner in One Glenlake.
The estimated $232.29 per-sf closing price would match the $232.07 per-sf price paid by Boca Raton, FL-based Koger Equity Inc. in January for another Pope & Land asset--the 23-story, 502,000-sf, two-year-old Atlanta Center Plaza at 14th and West Peachtree streets in Midtown. The closing price was $116.5 million, as GlobeSt.com previously reported.Wells chief investment officer David Steinwedell confirms in a prepared statement that Siebel Systems is the building's anchor tenant, occupying 163,000 sf or 46% of the structure. Other tenants are Willis Insurance, Regions Bank, Transamerica, EBC Office Centers and Coldwell Banker. One Glenlake anchors Glenlake Office Park, a seven-building office campus west of GA 400.
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