Wells Core Office Income REIT (Wells Core REIT) announced last week that it had purchased the Jackson National Life building in Englewood, Colorado for $41.5 million according to a Citybizlist report. The building is fully leased by Jackson National Life Insurance Company through March 2017.
"We are enthusiastic about this latest acquisition as it folds very nicely into our core strategy." said Don Henry, chief real estate officer of Wells Real Estate Funds, advisor to the REIT, "In particular, we are thrilled to add another investment-grade rated tenant, Jackson National Life, to our expanding Wells Core REIT portfolio."
According to the REIT's June 27 filing with the Securities and Exchange Commission, the current annual effective base rent under the Jackson National Life lease is approximately $4.4 million.
For more news and information visit Blumberg Capital Partners.
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