Wells REIT II Signs Toyota Motor Credit Corporation to Lease Extension in Suburban Phoenix

AA Rated Firm Extends Five Years at San Tan One Corporate Center

Wells Real Estate Investment Trust II has signed a lease extension with automotive financial services firm Toyota Motor Credit Corporation in suburban Phoenix. 

Toyota has occupied the entire 133,317-square-foot building at One San Tan Corporate Center in Chandler since its expansion in 2006.  Wells REIT II, owner of the building, has now extended Toyota's lease for an additional five years and five months, until April 2017.  Terms were not announced.

"Toyota is a valued tenant in our portfolio, and this renewal enables us to maintain that relationship while continuing to provide long-term solutions for their real estate requirements," said Kevin Hoover, Managing Director of Real Estate.  Toyota was represented by Wade and Rhonda Clark with Jones Lang LaSalle.

Toyota Motor Credit Corporation is a leading provider of automotive financial services, offering an extensive line of financing plans and vehicle and payment protection products to Toyota, Lexus and Scion customers and dealers in the U.S.

Currently, the Wells REIT II portfolio includes 92 office buildings in 24 states, Washington, D.C., and Russia, covering more than 22 million square feet.  Wells REIT II closed to new investments on June 30, 2010.  For information on Wells REIT II, visit http://www.WellsREITII.com/.

Wells Real Estate Funds, advisor to Wells REIT II, is a national real estate investment company founded in suburban Atlanta in 1984.  In its history, Wells investment offerings - current and closed - have invested more than $11 billion in real estate for more than 250,000 investors.  For more information on Wells Real Estate Funds, visit http://www.WellsREF.com/.

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