Wells Real Estate Investment Trust Inc. recently sold a four-story, class A office building and 5.2 acres of adjacent land in Tampa, Fla.
The total value of the transaction was $31.2 million.
IPC Inc., a subsidiary of IPC US REIT in Toronto, purchased the property.
Located at 5104 Eisenhower Blvd. west of Tampa near the Tampa International Airport, the building contains 130,000 square feet of space.
At the time of sale the property was 100 percent leased to IBM and to the International Academy of Merchandising and Design (IAMD), a division of Career Education Corp. IAMD is expected to fully occupy the building in January 2005.
Wells Real Estate Funds is a national real estate investment management firm that purchases existing class A office and industrial properties.
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