Sunday, May 11, 2008

AT&T Completes $275.2 Million Sale Leaseback of Atlanta Office Campus

Commercial Property News - May 9, 2008

Wells REIT II has acquired a five-building, 1 million-square-foot office campus in the Buckhead submarket of Atlanta, through a long-term sale-leaseback with AT&T. The campus will headquarter AT&T Wireless' operations in the city. The transaction's terms were not disclosed.

The property is located in the Lenox Park office park (pictured) on Lenox Park Boulevard, between Peachtree Road and Interstate 85. AT&T Services Inc. and its subsidiaries will occupy all five of the buildings under new leases running from 10 to 15 years. The buildings were constructed between 1992 and 2002 and range from four to 12 floors.

Jay Koster, senior managing director of Staubach Capital Markets, represented AT&T in the deal. Sphere: Related Content

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