Wells Real Estate Investment Trust II Inc. bought One Glenlake, a 350,000-square-foot, class-A office building leased primarily by Siebel Systems in Atlanta’s Central Perimeter market.
The value of the transaction was not disclosed.
Siebel Systems has a long-term lease for 163,000 square feet (46 percent) of the 14-story building. Other major tenants include Willis Insurance, Regions Bank, Transamerica, EBC Office Centers and Coldwell Banker.
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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