The nine-story building at 3010 Highland Pkwy., completed in2000 and sold off that year for $51.3 million, is home to a tenantroster than includes PeopleSoft, New York Life Insurance Co., FordMotor Credit Corp., United States Steel Corp. and CorVel Corp.Occupancy was 92.3% at the time of sale.

The latest purchase price was not disclosed. However, the threeprevious buildings were acquired for slightly more than $200 persf, which would put the value of Highland Landmark III at more than$55 million.

Bill Novelli, Jim Postweiler, and Mark Hellwig of CB RichardEllis represented the partnership that owned the building for fouryears. Clay Adams and Spencer Patton handled negotiations for WellsReal Estate Funds, sponsor of Wells REIT II, while John Grissim andDon Kurdziel represented Lincoln Property Co. The ownership changeresults in Lincoln Property Co. assuming management duties, whichpreviously had been handled by CBRE.