Wells Core REIT Acquires Four Parkway in Deerfield

Wells Core Office Income REIT (Wells Core REIT), a nontraded, public investment program sponsored by Wells Real Estate Funds, announced this week that it had acquired Four Parkway North in Deerfield, IL. John Buck Co.'s JBC Fund III sold the property for $40.9 million or $238 per square foot, according to a GlobeSt.com article. Wells was represented internally by Peter Mitchell, senior vice president, capital markets.

"Four Parkway North is a strong addition to the Wells Core REIT portfolio," said Joe Oglesby, chief investment officer of Wells Real Estate Funds, advisor to the REIT. "It serves as a headquarters location to three of our tenants — CF Industries, Lundbeck, and Randstad."

Built in 1999, the 172,000-square-foot Class A office building is situated just off of I-94 and the Tri-State Tollway, offering easy access to I-294, Chicago's Loop, and O'Hare International Airport. The building was fully leased to four tenants — CF Industries Holdings, Inc.; Lundbeck, Inc.; Randstad Pharma; and Amgen USA — at the time of sale.

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