University Circle, Wells REIT II Property, Earns LEED Gold
Three-building Silicon Valley complex attains green building standard
NORCROSS, Ga. (April 21, 2010) - University Circle, a three-building Silicon Valley office complex owned by Wells REIT II, has won gold-level certification under LEED, the environmental real estate practice standard.
LEED - Leadership in Energy and Environmental Design - is a national benchmark for the design, construction and operation of high-performance green buildings. Certification is administered by the U.S. Green Building Council. Gold certification is the second-highest of four classifications under LEED standards.
Wells Real Estate Investment Trust II specializes in ownership and management of Class-A office properties. Eleven buildings owned by the REIT have now earned the exacting LEED certification.
Under recent management initiatives, University Circle has significantly reduced energy use for lighting, and each of the three buildings has scored high ratings of better than 90 under ENERGY STAR® standards, up from the mid-70s to mid-80s when Wells acquired the property.
"More and more, outstanding real estate today means outstanding environmental practices," said Don Henry, chief real estate officer, Wells Real Estate Funds. "We work to operate every property as responsibly as we can when it comes to green building practices."
University Circle encompasses three premier-quality office buildings along Highway 101 in East Palo Alto, Calif., covering nearly a half million square feet. Tenants include law firm DLA Piper and other prominent firms. Wells acquired the property in 2005.
Wells REIT II owns 91 office and industrial buildings in 23 states; Washington, D.C.; and Moscow, Russia, covering more than 20 million square feet. For more information on the REIT, visit http://www.wellsreitii.com/.
Wells REIT II is a program of Wells Real Estate Funds, a national real estate investment company founded in suburban Atlanta in 1984. Since its inception, Wells investment offerings - current and closed - have invested more than $12 billion in real estate for more than 250,000 investors. For more information about Wells Real Estate Funds, see http://www.wellsref.com/.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. Readers of this press release should be aware that there are various factors that could cause actual results to differ materially from any forward-looking statements made in this release. Factors that could cause or contribute to such differences include, but are not limited to, changes in general economic and business conditions, industry trends, changes in government rules and regulations (including changes in tax laws), and increases in interest rates. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The identifier "Wells Real Estate Funds" is used generally in this communication, and not always in reference to Wells Real Estate Funds, Inc. The portfolios referenced are separate entities, as explained in the products' prospectuses. This is neither an offer nor a solicitation to purchase securities. Such an offer can be made only by prospectus. For a prospectus, contact Wells Investment Securities, Inc., 6200 The Corners Pkwy., Norcross, Ga. 30092-3365 (tel. 800-448-1010). SEC filings:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001252849&owner=include.
