Wells Real Estate Funds, a Georgia-based REIT, acquired the seven-story Franklin Center in Columbia, MD, from Principal Financial Group Inc. for $65 million, or about $324 per square foot.
The Class A
office building delivered in 2008 at 6841 Benjamin Franklin Drive in the Columbia South submarket. It totals 200,573 square feet and is fully occupied by SAIC Inc., according to CoStar information.
Paul Collins, William Collins, Jud Ryan, Jonathan Carpenter, James Wellschalger, Drew Flood and James Cassidy of Cassidy Turley represented the seller. Information on the buyer's broker was not disclosed.
Please see CoStar COMPS #2232165 for more information on this transaction.