Wells Real Estate Funds has purchased The Franklin Center in Columbia, MD for $65 million, or about $324 per square foot, according to a CoStar article. The Georgia-based REIT bought to Class A office building from Principal Financial Group Inc., which was represented by Cassidy Turley in the transaction. Terms of the deal and the buyer's broker was not disclosed.
The Franklin Center at 6841 Benjamin Franklin Drive was originally built in 2008 with 200,573 square feet of space spread over 7 floors. The building was fully leased to SAIC Inc. at the time of sale according to CoStar information, though the terms of that occupancy are unknown.
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