Another Wells REIT II purchase

Wells Real Estate Investment Trust II Inc. on Wednesday announced it purchased the Eagle Rock Executive Office Center IV in East Hanover, N.J., for an undisclosed price.

Invesco sold the three-story, 178,000-square-foot building, which is located in Eagle Rock Executive Park.

The property, built in 1990, was 95 percent leased at the time of purchase, with multinational human resources and payment solutions company Ceridian among the tenants.

This is Wells REIT II’s fifth property in northern New Jersey, according to a press statement. The company now owns 58 buildings in 19 states, including Washington, D.C.