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Wells Real Estate Funds Makes $17.5M Indy Buy

CHICAGO-A joint venture between the Wells Real Estate Investment Trust and Wells Limited Partnership Fund XIII pays $124 per sf for a four-story building in the Crosspoint Business Park in northeast Indianapolis.

By Mark Ruda | Updated on December 16, 2002

CHICAGO-Atlanta-based Wells Real Estate Funds is betting its latest acquisition, a 141,047-sf office building in Crosspoint Business Park in northeast Indianapolis, is not a real estate deal for dummies. John Wiley & Sons, the publisher for the “For Dummies, ” “ CliffNotes,” and “Unofficial Guide” series, occupies 88% of the four-story building.

USA Funds, and Robert Half International are the other tenants in the building, acquired by a joint venture between the Wells Real Estate Investment Trust and Wells Limited Partnership Fund XIII for $17.45 million. The deal is the 28th this year for the Atlanta-based REIT, which has spent more than $1.2 billion in 2002.

The Crosspoint Business Park is located near the I-69 96th Street interchange, just east of Indianapolis Municipal Airport and near the Castleton Square regional mall.

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