Wells REIT II Acquires Northpointe Corporate Campus, Suburban Seattle

Wells REIT II Acquires Northpointe Corporate Campus, Suburban Seattle

Comcast Primary Tenant; Second Building Ready for Leasing

NORCROSS, Ga. (Nov. 7, 2007) - Wells Real Estate Investment Trust II announced today its acquisition of Northpointe Corporate Campus, a new two-building Class-A office development in suburban Seattle. One building is fully leased to Comcast to 2017 and the other is ready for leasing.

The seller was Opus Northwest LLC. Terms were not announced.

The property, in the growing suburb of Lynnwood, Wash., is about 16 miles north of both Seattle and Bellevue, the region's two major employment centers, with convenient access to Interstate 5 and I-405. Comcast, the lead tenant, is the nation's leading provider of cable, entertainment and communications products and services.

"We're pleased to welcome Comcast to our family of tenants, and add this brand-new quality development to our stable of properties," said Joe Oglesby, senior vice president, Wells Real Estate Funds. "The Greater Puget Sound market is undergoing the most dynamic growth in its history, and as large companies look for desirable rents and easy interstate access, many are looking to the suburban submarkets."

Northpointe Corporate Campus includes two two-story buildings on 25th Avenue in Lynnwood - the Comcast building, approximately 87,000 square feet, and its sister building, about 69,000 square feet. The latter has the flexibility for a single tenant or multiple tenants, and includes 100 underground parking spaces.

The seller was represented by Cushman & Wakefield, which also is marketing the available leasing opportunity.

Wells REIT II, a public nontraded REIT specializing in office properties, now has 71 buildings in 22 states (including Washington, D.C.) and abroad, totaling more than $4 billion based on purchase price and covering 17 million square feet. Across the portfolio, Wells REIT II properties are 98 percent leased.

This is Wells REIT II's first acquisition in the state of Washington.

Wells Real Estate Funds is a national real estate investment company based in suburban Atlanta. Since its founding in 1984, Wells has invested more than $11 billion in real estate for more than 200,000 investors. For more information, see 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. 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 (tel. 800-448-1010). SEC filings: www.wellsref.com/investmentproducts/reit/secfilings.html.

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