Citybizlist in Washington, D.C. reports that Wells Core Office Income REIT Inc. has entered into an agreement to buy the 268,240-square-foot office building known as the South Lake at Dulles Corner Building for about $91.1 million. Built in 2008, the 10-story building is located on 7.5 acres in Herndon. It’s currently 100 percent leased to two tenants, with the main tenant, Time Warner Cable Inc., occupying nearly 99.5 percent of the building.The seller is Brandywine Acquisition Partners LP. Under the agreement, the closing is expected to occur by late March.
Wells Core REIT, out of Norcross, Ga., is a nontraded, public investment program sponsored by Wells Real Estate Funds that focuses primarily on core office real estate.
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