October 26, 2004 — (WEB HOST INDUSTRY REVIEW) — Wells Real Estate Investment Trust II Inc. announced on Monday that it has acquired a 393,000 square foot building in Gaithersburg, Maryland that includes a data center facility. The two-story building, situated on 45.51 acres of property, is leased to IBM (ibm.com). Financial terms of the deal were not disclosed.
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The property is bounded by Interstate 270 to the west and Route 355 to the east – both major highway routes. Gaithersburg, located in the state of Maryland, is part of a growing regional location for high-tech companies in the greater Washington, DC area.
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“The city of Gaithersburg is one of Montgomery County’s fastest-growing communities,” says David Steinwedell, chief investment officer with Wells Real Estate Funds. “The proximity of the property to Interstate 270 and its immediate access to Route 355 make this an attractive property from a location standpoint. The tenant’s reputation in the integrated information technology field helps diversify our portfolio and strengthen our position in this market.”
