Wells REIT II Acquires AT&T Campus at Atlanta's Lenox Park

Wells REIT II Acquires AT&T Campus at Atlanta's Lenox Park

Five-Building, 1M SF Campus in Buckhead, Fully Leased for 10+ Years

NORCROSS, Ga. (May 9, 2008) - Wells Real Estate Investment Trust II announced today the acquisition of a five-building, 1-million-square-foot office campus in Atlanta's prestigious Buckhead area, in a sale-leaseback from AT&T.

The Class-A property is located in the Lenox Park office park, between Peachtree Road and Interstate 85. AT&T Services, Inc. and its subsidiaries will occupy all of the five buildings, under new leases running from 10 to 15 years.

"This is a rare real estate opportunity - a million square feet of prime office property, fully leased to a world-class tenant, in the top submarket of a top-10 city," said Don Henry, chief real estate officer, Wells Real Estate Funds. "We are thrilled to add this property to the Wells REIT II portfolio."

The property is located at 1025, 1055, 1057 and 1277 Lenox Park Blvd. and 2180 Lake Blvd.; the buildings were constructed between 1992 and 2002, ranging from four to 12 floors. The property was marketed for AT&T by Staubach Capital Markets. Terms of the acquisition were not announced.

"Lenox Park is a distinctive location," said Keith Willby, senior vice president, acquisitions, who represented Wells. "It's unusual to find a large, modern office park directly in a top urban submarket. And Buckhead is, in many ways, Atlanta's jewel, with the top rents in the city."

Lenox Park won the Metro Atlanta Landscapes & Turf Association's Grand Award in 2005, and the 2180 Lake Blvd. building received ENERGY STAR certification from the U.S. Environmental Protection Agency in 2007.

AT&T, the largest communications company in the world, also leases offices at Emerald Point, a Wells REIT II property near Oakland, Calif., and the Sterling Commerce building in Irving, Texas.

Wells REIT II, a public nontraded REIT specializing in office properties, now has 77 buildings in 23 states and Washington, D.C., totaling more than $4 billion based on purchase price and covering 18 million square feet. Across the portfolio, Wells REIT II properties are 98 percent leased.

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; for more information on Wells REIT II, visit www.wellsreitII.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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