On September 10, 2007, Wells Real Estate Investment Trust II, Inc. (the "Registrant") purchased a three-story office building containing approximately 106,000 rentable square feet (the "Bannockburn Lake III Building") for approximately $20.2 million, exclusive of closing costs. The Bannockburn Lake III Building is located on an approximate 10.2-acre parcel of land at 2355 Waukegan Road, Bannockburn, Illinois. The Bannockburn Lake III Building was purchased from BRE Acquisitions V, LLC, which is not affiliated with the Registrant, its subsidiaries or Wells Capital, Inc. The acquisition was funded with net proceeds raised from the Registrant's ongoing public offering and proceeds from the Registrant's $400 million line of credit with Wachovia Bank, N.A.

The Bannockburn Lake III Building, which was completed in 1987, is entirely leased to TAP Pharmaceutical Products, Inc. ("TAP"). TAP is a joint venture between two global pharmaceutical companies, Abbott Laboratories and Takeda Pharmaceutical Company Limited. TAP develops and markets pharmaceutical products primarily for the United States. TAP reported a net worth, as of June 30, 2007, of approximately $366.4 million.

Based on the current condition of the Bannockburn Lake III Building, the Registrant does not believe it will be necessary to make significant renovations to the Bannockburn Lake III Building in the near term. Management of the Registrant believes that the Bannockburn Lake III Building is adequately insured.