Norcross-based Wells Real Estate Investment Trust II has completed its second big transaction with AT&T.

Wells bought AT&T's two Lindbergh Center office buildings, which the telecommunications giant plans to lease back, Wells said. The 14-story buildings are near Piedmont Road and Lindbergh Drive. MARTA owns the land.

The sale price was not disclosed, but Wells probably paid more than $265 million based on the size of the properties and their age. The Lindbergh buildings total 955,000 square feet and were completed in 2002.

In May, Wells paid $286 million for AT&T's five buildings at Lenox Park. Those buildings, totaling more than 1 million square feet, are 10 years older than the Lindbergh buildings.

"We said a month ago it was rare to acquire a million square feet of prime office property, fully leased to a world-class tenant, in the top submarket of a top 10 city. A month later, we've done it again," Don Henry, Wells' chief real estate officer, said in a release.

Wells REIT II is a public nontraded REIT specializing in office properties. It now owns 80 buildings in 23 states and Washington, D.C. The portfolio's total worth is more than $4 billion, based on purchase prices.

ON THE JOB

The Atlanta Development Authority has selected a new chief financial officer who hails from Seattle.

Tom DiGiovanni began his job this week. DiGiovanni had been president and managing partner of Newhouse Development Co. in Seattle. Newhouse is a residential developer specializing in earth-friendly building practices, according to the ADA.

A native of New York, DiGiovanni graduated from Rochester Institute of Technology in 1988. He replaces former CFO Lawrence Gerlach, who will join Harlem Irving Cos. in Chicago.

ADVERTISING

Where is America's biggest digital sign facing an interstate, you ask?

According to Barry Real Estate Cos., it's located at their nine-block downtown project, Allen Plaza.

The full-color, 3,500-square-feet sign came to life this week with ads for Allen Plaza, the W Atlanta Downtown Hotel & Residences at Allen Plaza, AT&T and Turner Broadcasting System.

The sign will also provide Amber Alerts for missing children and other public service messages, Barry says.

TRANSACTIONS

Investors under the name Gwinnett Prado paid $5 million for the 1852 Century Place office building in northeast Atlanta, according to Databank. The 41,872-square-foot building is 27 years old.

Gwinnett Prado is a shopping center in Duluth near Gwinnett Place mall that's part of a new project called Asian Galleria. Rob Fox of Marcus & Millichap Real Estate Investment Services brokered the sale.

• Roberts Realty Investors sold the Addison Place apartment community in Johns Creek for $60 million. That's $148,883 per apartment.

Addison Place has 118 townhomes and 285 garden apartments.

The buyer was the Connor Group of Centerville, Ohio, according to Databank.

Roberts Realty says its net proceeds were $29.3 million.