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NORCROSS, GA-Locally based Wells Real Estate Investment Trust II has acquired the 955,000-sf Lindbergh Center in the company’s second sale-leaseback deal with AT&T Services Inc. in the Buckhead area in the last few months. The communications giant will continue to occupy 100% of the property under a lease through 2020. As reported by GlobeSt.com in May, Wells REIT II acquired Lenox Park, a one million-sf, five building office campus, in a similar deal with AT&T.

“It extends our relationship with AT&T,” Oglesby, chief investment officer of Wells Real Estate Funds, tells GlobeSt.com. “Both properties are in the bull’s-eye of what we look for-long term leases with credit tenants.”

Originally built for BellSouth (now AT&T) in 2002, Lindbergh Center consists of two 14-story, class A office buildings connected by an atrium. The buildings are located within a 47-acre transit-oriented, live-work-play development called Lindbergh City Center.

Proximity to transport made the deals even more attractive, says Oglesby. MARTA stations are directly adjacent to the Lindbergh property and a short shuttle bus from the Lenox Park property.

Calls to an AT&T real estate representative were not returned Wednesday, but Oglesby comments that it is well known that the company has been involved in sale-leasebacks of several properties across the country. In January, the company completed a similar deal with its 900,000-sf West Loop office in Chicago for a reported $275 million.

Wells Real Estate Funds now has six properties encompassing 14 buildings in metropolitan Atlanta, according to a spokesperson. Five of the six properties, including the new Lindbergh property, are owned by Wells REIT II, the company’s largest fund.

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