Thursday, February 10, 2011
NORCROSS, GA– 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 (top left photo) 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 (middle right photo), 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/.
Media Contact: Margot Olcay, Rubenstein Associates, (212) 843-8284