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ATLANTA-Locally-based Wells Real Estate Investment Trust acquired a one-year-old, 157,792-sf, two-building office property in Houston’s greater Greenspoint district for $20.75 million or $131.50 per sf. Wells refused to identified the seller.

The REIT has leased the property to IKON Office Solutions through April 2010. Wells didn’t disclose the value of the nine-year lease.

The 15-acre property with 850 parking spaces is at 810 and 820 Gears Road, 13 miles north of the Greenspoint district. The area is home to several corporate headquarters and considered the central business district in north Houston.

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