Document:

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                                                                   EXHIBIT 10.64

                       AGREEMENT FOR PURCHASE AND SALE OF

                                 AVNET BUILDING
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     THIS AGREEMENT FOR THE PURCHASE AND SALE OF PROPERTY (the "Agreement"), is
made and entered into as of the 13th day of March, 2000, by and between RYAN
COMPANIES US, INC., a Minnesota corporation ("Seller") and WELLS CAPITAL, INC.,
a Georgia corporation ("Purchaser").

                             W I T N E S S E T H:
                             - - - - - - - - - -

     WHEREAS, Seller desires to sell and Purchaser desires to purchase the
Property (as hereinafter defined) subject to the terms and conditions
hereinafter set forth.

     NOW, THEREFORE, for and in consideration of the premises, the mutual
agreements contained herein, the sum of Ten Dollars ($10.00) in hand paid by
Purchaser to Seller at and before the sealing and delivery of these presents and
for other good and valuable consideration, the receipt, adequacy, and
sufficiency which are hereby expressly acknowledged by the parties hereto, the
parties hereto do hereby covenant and agree as follows:

     1.   Purchase and Sale of Property. Subject to and in accordance with the
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terms and provisions of this Agreement, Seller hereby agrees to sell to
Purchaser and Purchaser hereby agrees to purchase from Seller, the Property,
which term "Property" shall mean and include the following:

          (a) the tenant's interest under that certain ASU Research Park Lease
     dated April 5, 1999, (the "Ground Lease") between Price-Elliot Research
     Park, Inc. ("Lessor"), as Landlord, and Seller, as Tenant in and to all
     that tract or parcel of land (the "Land") located in the Southeast quarter
     of Section 13, Township 1 South, Range 4 East of the Gila and Salt river
     Base and Meridian, Maricopa County, Arizona, containing approximately 9.63
     acres, having an address of 8700 Price Road, Tempe, Arizona, and being more
     particularly described on Exhibit "A" hereto; and
                               -----------

          (b) the tenant's interest under the Ground Lease in and to all rights,
     privileges, and easements appurtenant to the Land, including all water
     rights, mineral rights, reversions, or other appurtenances to said Land,
     and all right, title, and interest of Seller, if any, in and to any land
     lying in the bed of any street, road, alley, or right-of-way, open or
     proposed, adjacent to or abutting the Land; and

          (c) the tenant's interest under the Ground Lease in and to all
     buildings, structures, and improvements situated on the Land, including,
     without limitation, that certain two story office building containing
     approximately 132,070 square feet of leasable space, the parking areas
     containing approximately 660 parking spaces and other amenities located on
     the Land, and all apparatus, built-in appliances, equipment, pumps,
     machinery, plumbing, heating, air conditioning, electrical and other
     fixtures located on the Land (all of which are herein collectively referred
     to as the "Improvements"); and

          (d) all personal property now owned by Seller and located on or to be
     located on or in, or used in connection with, the Land and Improvements
     ("Personal Property"); and

          (e) all of Seller's right, title, and interest, as landlord or lessor,
     in and to that certain Lease Agreement with AVNET, INC., a New York
     corporation (the "Tenant"), dated April 20, 1999 (the"Lease"); and

          (f) all of Seller's right, title, and interest in and to the plans and
     specifications with respect to the Improvements and any guarantees,
     trademarks, rights of copyright, warranties, or other rights related to the
     ownership of or use and operation of the Land, Personal Property, or
     Improvements, all governmental licenses and permits, and all intangibles
     associated with the Land, Personal Property, and Improvements, including
     the name of the Improvements and the logo therefor, if any.

     2.   Earnest Money. Within two (2) business days after the full execution
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of this Agreement, Purchaser shall deliver to Old Republic Title Agency ("Escrow
Agent"), whose offices are at 3200 North Central Avenue, Suite 100, Phoenix, AZ
85012, Purchaser's check, payable to Escrow Agent, in the amount of $100,000
(the "Earnest Money"), which Earnest Money shall be held and disbursed by Escrow
Agent in accordance with this
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Agreement. The Earnest Money shall be paid by Escrow Agent to Seller at Closing
(as hereinafter defined) and shall be applied as a credit to the Purchase Price
(as hereinafter defined), or shall otherwise be paid to Seller or refunded to
Purchaser in accordance with the terms of this Agreement. All interest and other
income from time to time earned on the Earnest Money shall belong to Purchaser
and shall be disbursed to Purchaser at any time or from time to time as
Purchaser shall direct Escrow Agent. In no event shall any such interest or
other income be deemed a part of the Earnest Money.

     3.   Purchase Price. Subject to adjustment and credits as otherwise
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specified in this Agreement, the purchase price (the "Purchase Price") to be
paid by Purchaser to Seller for the Property shall be THIRTEEN MILLION TWO
HUNDRED FIFTY THOUSAND AND 00/100 DOLLARS ($13,250,000.00). The Purchase Price
shall be paid by Purchaser to Seller at the Closing (as hereinafter defined) by
cashier's check or by wire transfer of immediately available federal funds, less
the amount of Earnest Money and subject to prorations, adjustments and credits
as otherwise specified in this Agreement.

     4.   Purchaser's Inspection and Review Rights. Subject to the rights of the
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Tenant, Purchaser and its agents, engineers, or representatives, with Seller's
reasonable, good faith cooperation, shall have the privilege of going upon the
Property as needed to inspect, examine, test, and survey the Property at all
reasonable times and from time to time. Purchaser hereby agrees to hold Seller
harmless from any liens, claims, liabilities, and damages incurred through the
exercise of such privilege, and Purchaser further agrees to repair any damage to
the Property caused by the exercise of such privilege. At all reasonable times
prior to the Closing (as hereinafter defined), Seller shall make available to
Purchaser, or Purchaser's agents and representatives, for review and copying,
all books, records, and files in Seller's possession relating to the ownership
and operation of the Property, including, without limitation, title matters,
surveys, tenant files, service and maintenance agreements, and other contracts,
books, records, operating statements, and other information relating to the
Property. Seller further agrees to in good faith assist and cooperate with
Purchaser in coming to a thorough understanding of the books, records, and files
relating to the Property. Seller further agrees to provide to Purchaser (to the
extent the same have not previously been provided to Purchaser) prior to the
date which is five (5) days after the effective date of this Agreement the most
current boundary and "as-built" surveys of the Land and Improvements and any
title insurance policies, appraisals, occupancy permits, building inspection
reports and environmental reports relating thereto and in the possession or
under the control of Seller. Seller acknowledges that Purchaser may be required
by the Securities and Exchange Commission to file audited financial statements
for one to three years with regard to the Property. At no cost or liability to
Seller, Seller shall (i) cooperate with Purchaser, its counsel, accountants,
agents, and representatives, provide them with access to Seller's books and
records with respect to the ownership, management, maintenance, and operation of
the Property for the applicable period, and permit them to copy the same, (ii)
execute a form of "rep" letter in form and substance reasonably satisfactory to
Seller, and (iii) furnish Purchaser with such additional information concerning
the same as Purchaser shall reasonably request. Purchaser will pay the costs
associated with any such audit.

     5.   Special Condition to Closing.  (a) Purchaser shall have thirty (30)
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days from the effective date of this Agreement (the "Inspection Period") to make
investigations, examinations, inspections, market studies, feasibility studies,
lease reviews, and tests relating to the Property and the operation thereof in
order to determine, in Purchaser's sole opinion and discretion, the suitability
of the Property for acquisition by Purchaser. Purchaser shall have the right to
terminate this Agreement at any time prior to the expiration of the Inspection
Period by giving written notice to Seller of such election to terminate. In the
event Purchaser so elects to terminate this Agreement, Seller shall be entitled
to receive and retain the sum of Twenty-Five Dollars ($25.00) of the Earnest
Money, and the balance of the Earnest Money shall be promptly refunded by Escrow
Agent to Purchaser, whereupon, except as expressly provided to the contrary in
this Agreement, no party hereto shall have any other or further rights or
obligations under this Agreement. Seller acknowledges that the sum of $25.00 is
good and adequate consideration for the termination rights granted to Purchaser
hereunder.

     (b) This Agreement is contingent upon the Tenant not exercising its right
of the first refusal under Section 26 of the Lease.  If the Tenant exercises
such right of first refusal, this Agreement shall terminate and the Earnest
Money shall be promptly refunded by Escrow Agent to Purchaser, whereupon, except
as expressly provided to the contrary in this Agreement, no party hereto shall
have any other or further rights or obligations under this Agreement. This
Agreement is also contingent upon the closings described in three separate
Agreements for the Purchase and Sale of Property between Seller and Purchaser,
each dated February 23, 2000, and relating to properties located at 8075 and
8555 South River Parkway, Tempe, AZ and 15501 N. Dial Blvd., Scottsdale, AZ.

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     6.   General Conditions Precedent to Purchaser's Obligations Regarding the
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Closing. In addition to the conditions to Purchaser's obligations set forth in
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Paragraph 5 above, the obligations and liabilities of Purchaser hereunder shall
in all respects be conditioned upon the satisfaction of each of the following
conditions, any of which may be waived by written notice from Purchaser to
Seller:

          (a) Seller shall have complied in all material respects with and
     otherwise performed in all material respects each of the covenants and
     obligations of Seller set forth in this Agreement, as of the date of
     Closing (as hereinafter defined).

          (b) All representations and warranties of Seller as set forth in this
     Agreement shall be true and correct in all material respects as of the date
     of Closing.

          (c) There shall have been no adverse change to the title to the
     Property which has not been cured and the Title Company (as hereinafter
     defined) shall have issued the Title Commitment (as hereinafter defined) on
     the Land and Improvements without exceptions other than as described in
     paragraph 7 and the Title Company shall be prepared to issue to Purchaser
     upon the Closing a leasehold owner's title insurance policy on the Land and
     Improvements pursuant to such Title Commitment.

          (d) Purchaser shall have received the Tenant Estoppel Certificate
     referred to in Paragraph 9(c) hereof, duly executed by the Tenant at least
     five (5) days prior to the end of the Inspection Period.

          (e) Purchaser shall have received the Lessor Estoppel Certificate
     referred to in Paragraph 9(d) hereof, duly executed by the Lessor at least
     five (5) days prior to the end of the Inspection Period.

          (f) Purchaser shall have received evidence of "Substantial Completion"
     as defined in the Lease, and payment of "Rent" as defined in the Lease
     shall have commenced.

     7.   Title and Survey. Seller covenants and agrees that Seller, at its sole
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cost and expense, shall, on or before ten (5) days after the Effective Date of
this Agreement, cause Old Republic National Title Insurance Company, or such
other such title insurance company acceptable to Purchaser (herein referred to
as the "Title Company"), to deliver to Purchaser its commitment (herein referred
to as the "Title Commitment") to issue to Purchaser, upon the recording of the
Assignment and Assumption of ASU Research Park Lease, the payment of the
Purchase Price, and the payment to the Title Company of the policy premium
therefor, an owner's policy of title insurance, in the amount of the Purchase
Price, insuring good and marketable record title to the Property to be in
Purchaser subject only to the Permitted Exceptions (as hereinafter defined),
with affirmative coverage over any mechanic's, materialman's and subcontractor's
liens and with full extended coverage over all general exceptions, and
containing the following endorsements: zoning (including affirmative coverage
against any violations of recorded covenants and restrictions), survey, and
access. Such Title Commitment shall not contain any exception for rights of
parties in possession other than an exception for the right of the Tenant under
the Lease. If the Title Commitment shall contain an exception for the state of
facts which would be disclosed by a survey of the Property or an "area and
boundaries" exception, the Title Commitment shall provide that such exception
will be deleted upon the presentation of an ALTA/ASCM survey acceptable to Title
Company, in which case the Title Commitment shall be amended to contain an
exception only for the matters shown on the as-built survey which Seller shall
obtain at its sole cost and expense for the benefit of Purchaser. Said survey
shall include a certification that the Property is zoned in a classification
which will permit the operating of the Property as an office building and any
conditions to the granting of such zoning have been satisfied. Seller shall also
cause to be delivered to Purchaser together with such Title Commitment, legible
copies of all documents and instruments referred to therein. Purchaser, upon
receipt of the Title Commitment and the copies of the documents and instruments
referred to therein, shall then have ten (10) days during which to examine the
same, after which Purchaser shall notify Seller of any defects or objections
affecting the marketability of the title to the Property. Seller shall then have
until the Closing to cure such defects and objections and shall, in good faith,
exercise reasonable diligence to cure such defects and objections.

     8.   Representations and Warranties of Seller. Seller hereby makes the
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following representations and warranties to Purchaser, each of which shall be
deemed material:

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          (a)  Lease. Seller has delivered to Purchaser a true, correct and
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     complete copy of the Lease, together with all modifications and amendments
     thereto herein referred. Seller is the "landlord" under the Lease and owns
     unencumbered legal and beneficial title to the Lease and the rents and
     other income thereunder, subject only to the collateral assignment of the
     Lease and the rents thereunder in favor of the holder of an existing
     mortgage or deed of trust encumbering the Property, which mortgage or deed
     of trust shall be canceled and satisfied by Seller at the Closing. The
     Tenant will lease and occupy 100% of the rentable area of the Improvements.

          (b)  Lease - Assignment. To the best of Seller's knowledge, the Tenant
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     has not assigned its interest in the Lease or sublet any portion of the
     premises leased to the Tenant under the Lease.

          (c)  Lease - Default. (i) Seller has not received any notice of
               ---------------
     termination or default under the Lease, (ii) there are no existing or
     uncured defaults by Seller or by the Tenant under the Lease, (iii) to the
     best of Seller's knowledge, there are no events which with the passage of
     time or notice, or both, would constitute a default by Seller or by the
     Tenant, and Seller has complied with each and every undertaking, covenant,
     and obligation of Seller under the Lease, and (iv) Tenant has not asserted
     any defense, set-off, or counterclaim with respect to its tenancy or its
     obligation to pay rent, additional rent, or other charges pursuant to the
     Lease.

          (d)  Lease - Rents and Special Consideration. Tenant: (i) has not
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     prepaid rent for more than the current month under the Lease, (ii) has not
     received and is not entitled to receive any rent concession in connection
     with its tenancy under the Lease other than as described in the Lease,
     (iii) is not entitled to any special work (not yet performed), or
     consideration (not yet given) in connection with its tenancy under the
     Lease, except for "Landlord's Kitchen Work" and "Punchlist Items", which
     shall be completed on or before Closing (or escrowed for), and (iv) does
     not have any deed, option, or other evidence of any right or interest in or
     to the Property, except for the Tenant's tenancy and right of first refusal
     as evidenced by the express terms of the Lease.

          (e)  Lease - Commissions. No rental, lease, or other commissions with
               -------------------
     respect to the Lease are payable to Seller, any partner of Seller, any
     party affiliated with or related to Seller or any partner of Seller or any
     third party whatsoever. All commissions payable under, relating to, or as a
     result of the Lease have been cashed-out and paid and satisfied in full by
     Seller or by Seller's predecessor in title to the Property.

          (f)  Intentionally Omitted.
               ---------------------

          (g)  No Other Agreements. Other than the Lease and the Permitted
               -------------------
     Exceptions, there are no leases, service contracts, management agreements,
     or other agreements or instruments in force and effect, oral or written, to
     which Seller is a party and that grant to any person whomsoever or any
     entity whatsoever any right, title, interest or benefit in or to all or any
     part of the Property or any rights relating to the use, operation,
     management, maintenance, or repair of all or any part of the Property.

          (h)  No Litigation. There are no actions, suits, or proceedings
               -------------
     pending, or, to the best of Seller's knowledge, threatened by any
     organization, person, individual, or governmental agency against Seller
     with respect to the Property or against the Property, nor does Seller know
     of any basis for such action. Seller has no knowledge of any pending or
     threatened application for changes in the zoning applicable to the Property
     or any portion thereof.

          (i)  Condemnation. No condemnation or other taking by eminent domain
               ------------
     of the Property or any portion thereof has been instituted and, to the best
     of Seller's knowledge, there are no pending or threatened condemnation or
     eminent domain proceedings (or proceedings in the nature or in lieu
     thereof) affecting the Property or any portion thereof or its use.

          (j)  Proceedings Affecting Access. The Property is served by curb cuts
               ----------------------------
     for direct vehicular access to and from Price Road and Science Drive
     adjoining the Property. Said streets are public streets. There are no
     pending or, to the best of Seller's knowledge, threatened proceedings that
     could have the

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     effect of impairing or restricting access between the Property and such
     adjacent public roads.

          (k)  Intentionally Omitted.
               ----------------------

          (l)  Conditions of Improvements. Seller is not aware of any structural
               --------------------------
     or other defects, in the Improvements. The heating, ventilating, air
     conditioning, electrical, plumbing, water, elevator(s), roofing, storm
     drainage and sanitary sewer systems at or servicing the Land and
     Improvements are, to the best of the Seller's knowledge, in good condition
     and working order and Seller is not aware of any defects or deficiencies,
     latent or otherwise, therein. The Improvements have been constructed in
     compliance with applicable provisions of the Lease, Ground Lease, ABR
     Lease, City of Tempe building regulations, and any recorded covenants,
     conditions and restrictions.

          (m)  Certificates. To the best of Seller's knowledge, there will, at
               ------------
     closing, be in effect certificates of occupancy, licenses, and permits as
     may be required for the Property, and the present use and occupation of the
     Property is in compliance and conformity with the certificates of occupancy
     and all licenses and permits. There has been no notice or request of any
     municipal department, insurance company or board of fire underwriters (or
     organization exercising functions similar thereto), or mortgagee directed
     to Seller and requesting the performance of any work or alteration to the
     Property which has not been complied with.

          (n)  Violations. To the best of Seller's knowledge, there are no
               ----------
     violations of law, municipal or county ordinances, or other legal
     requirements with respect to the Property, and the Improvements thereon
     comply with all applicable legal requirements with respect to the use,
     occupancy, and construction thereof. The Property is zoned in a
     classification which permits the use thereof in the present manner. The
     Property is not located in a flood hazard area.

          (o)  Underlying Leases. Seller has delivered to Purchaser a true,
               -----------------
     correct and complete copy of the Ground Lease and the Arizona State
     University Ground Lease between The Arizona Board of Regents acting for and
     on behalf of Arizona State University, as landlord, and Lessor, as tenant
     (the "ABR Lease"), dated October 8, 1984, and all amendments thereto (the
     "Underlying Leases"). (i) Seller has not received any notice of termination
     or default under the Underlying Leases, (ii) to the best of Seller's
     knowledge, there are no existing or uncured defaults by any party to the
     Underlying Leases, (iii) Seller has no direct obligation under the ABR
     Lease, and (iv) Sellers only obligations under the Ground Lease are to pay
     (A) rent in the amount of $19,231.44 per month (increasing to $25,176.00
     per month on January 1, 2009, and thereafter further increasing as provided
     therein), which amount is not passed through to the Tenant; (B) a Municipal
     Service Fee, currently estimated to be $1,007.86 per month, which amount is
     passed through to the Tenant; (c) Common Area Maintenance charges,
     currently estimated to be $3,038.96 per month, which amount is passed
     through to Tenant, and (d) insurance, the cost of which is passed through
     to Tenant.

          (p)  Bankruptcy. Seller is "solvent" as said term is defined by
               ----------
     bankruptcy law and has not made a general assignment for the benefit of
     creditors nor been adjudicated a bankrupt or insolvent, nor has a receiver,
     liquidator, or trustee for any of Seller's properties (including the
     Property) been appointed or a petition filed by or against Seller for
     bankruptcy, reorganization, or arrangement pursuant to the Federal
     Bankruptcy Act or any similar Federal or state statute, or any proceeding
     instituted for the dissolution or liquidation of Seller.

          (q)  Pre-existing Right to Acquire. No person or entity has any right
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     or option to acquire the Property or any portion thereof which will have
     any force or effect after the execution of this Agreement, other than
     Purchaser and Tenant.

          (r)  Effect of Certification. To the best of Seller's knowledge,
               -----------------------
     neither this Agreement nor the transactions contemplated herein will
     constitute a breach or violation of, or default under, or will be modified,
     restricted, or precluded by the Lease or the Permitted Exceptions.

          (s)  Authorization. Seller is a duly organized and validly existing
               -------------
     corporation under the laws

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     of the State of Minnesota. This Agreement has been duly authorized and
     executed on behalf of Seller and constitutes the valid and binding
     agreement of Seller, enforceable in accordance with its terms, and all
     necessary action on the part of Seller to authorize the transactions herein
     contemplated has been taken, and no further action is necessary for such
     purpose.

          (t)  Seller Not a Foreign Person. Seller is not a "foreign person"
               ---------------------------
     which would subject Purchaser to the withholding tax provisions of Section
     1445 of the Internal Revenue Code of 1986, as amended.

          (u) Hazardous Substances. Seller hereby warrants and represents, to
              --------------------
     the best of Seller's knowledge, and except as otherwise disclosed in that
     certain Phase One/Limited Phase Two Environmental Site Assessment of Part
     of Lot 30 and all of Lots 31 and 32, ASU Research Park, by Liesch
     Associates, Inc., dated February 2, 1999, that (i) no "hazardous
     substances", as that term is defined in the Comprehensive Environmental
     Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C.
     Section 9601, et. seq., the Resource Conservation and Recovery Act, as
                   --  ---
     amended, 42 U.S.C. Section 6901 et. seq., and the rules and regulations
                                     --  ---
     promulgated pursuant to these acts, any so-called "super-fund" or "super-
     lien" laws or any applicable state or local laws, nor any other pollutants,
     toxic materials, or contaminants have been or shall prior to Closing be
     discharged, disbursed, released, stored, treated, generated, disposed of,
     or allowed to escape on the Property, (ii) no asbestos or asbestos
     containing materials have been installed, used, incorporated into, or
     disposed of on the Property, (iii) no polychlorinated biphenyls are located
     on or in the Property, in the form of electrical transformers, fluorescent
     light fixtures with ballasts, cooling oils, or any other device or form,
     (iv) no underground storage tanks are located on the Property or were
     located on the Property and subsequently removed or filled, (v) no
     investigation, administrative order, consent order and agreement,
     litigation, or settlement with respect to Hazardous Substances is proposed,
     threatened, anticipated or in existence with respect to the Property, and
     (vi) the Property has not previously been used as a landfill, cemetery, or
     as a dump for garbage or refuse. Seller hereby indemnifies Purchaser and
     holds Purchaser harmless from and against any loss, cost, damage, liability
     or expense due to or arising out of the breach of any representation or
     warranty contained in this Paragraph.

EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY HEREIN, PURCHASER IS ACQUIRING THE
PROPERTY IN ITS "AS IS" CONDITION AS OF THE DATE OF THE CLOSING.

     9.   Seller's Additional Covenants. Seller does hereby further covenant and
          -----------------------------
agree as follows:

          (a)  Operation of Property.  Seller hereby covenants that, from the
               ---------------------
     date of this Agreement up to and including the date of Closing, Seller
     shall: (i) not negotiate with any third party respecting the sale of the
     Property or any interest therein, (ii) not modify, amend, or terminate the
     Lease or Ground Lease, or enter into any new lease, contract, or other
     agreement respecting the Property, (iii) not grant or otherwise create or
     consent to the creation of any easement, restriction, lien, assessment, or
     encumbrance respecting the Property, and (iv) cause the Property to be
     operated, maintained, and repaired in the same manner as the Property is
     currently being operated, maintained, and repaired.

          (b)  Preservation of Lease and Ground Lease. Seller shall, from and
               --------------------------------------
     after the date of this Agreement to the date of Closing, use its good faith
     efforts to perform and discharge all of the duties and obligations and
     shall otherwise comply with every covenant and agreement of the landlord
     under the Lease and of the tenant under the Ground Lease, at Seller's
     expense, in the manner and within the time limits required thereunder.
     Furthermore, Seller shall, for the same period of time, use diligent and
     good faith efforts to cause the Tenant under the Lease to perform all of
     its duties and obligations and otherwise comply with each and every one of
     its covenants and agreements under such Lease and shall take such actions
     as are reasonably necessary to enforce the terms and provisions of the
     Lease.

          (c)  Tenant Estoppel Certificate.  At least five (5) days prior to
               ---------------------------
     expiration of the Inspection Period, Seller shall obtain and deliver to
     Purchaser a fully completed estoppel certificate with respect to the Lease
     in substantially the form of Exhibit "B" (the "Tenant Estoppel
                                  -----------
     Certificate"), duly executed by the

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     Tenant thereunder. The Tenant Estoppel Certificate shall be executed as of
     a date not more than thirty (30) days prior to Closing.

          (d)  Lessor Estoppel Certificate.  At least five (5) days prior to
               ---------------------------
     expiration of the Inspection Period, Seller shall obtain and deliver to
     Purchaser a fully completed estoppel certificate with respect to the Ground
     Lease in substantially the form of Exhibit "C" (the "Lessor Estoppel
                                        -----------
     Certificate"), duly executed by the Lessor thereunder. The Lessor Estoppel
     Certificate shall be executed as of a date not more than thirty (30) days
     prior to Closing.

          (e)  Insurance. From and after the date of this Agreement to the date
               ---------
     and time of Closing, Seller shall, at its expense, continue to maintain the
     all risk fire and extended coverage insurance policy covering the Property
     which is currently in force and effect.

          (f)  Completion of Construction.  Seller covenants and agrees that it
               --------------------------
     shall complete construction of the improvements contemplated by   the
     "Landlord's Work", "Landlord's Kitchen Work" and "Punchlist Items" as
     required by the Lease. This provision shall survive closing indefinitely.

     10.  Closing.  Provided that all of the conditions set forth in this
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Agreement are theretofore fully satisfied or performed, it being fully
understood and agreed, however, that Purchaser may expressly waive in writing,
at or prior to Closing, any conditions that are unsatisfied or unperformed at
such time, the consummation of the sale by Seller and purchase by Purchaser of
the Property (herein referred to as the "Closing") shall be held at 2:00 p.m.,
local time, on the first business day which is at least five (5) days after the
payment of "Rent" has commenced under the Lease, at the offices of Escrow Agent,
or at such earlier time as shall be designated by Purchaser in a written notice
to Seller not less than two (2) business days prior to Closing.

     11.  Seller's Closing Documents.  For and in consideration of, and as a
          --------------------------
condition precedent to, Purchaser's delivery to Seller of the Purchase Price
described in Paragraph 3 hereof, Seller shall obtain or execute, at Seller's
expense, and deliver to Purchaser at Closing the following documents (all of
which shall be duly executed, acknowledged, and notarized where required and
shall survive the Closing):

          (a)  Assignment and Assumption of Ground Lease.  An Assignment and
               -----------------------------------------
     Assumption of Ground Lease in substantially the form of Exhibit "D";
                                                             ----------

          (b)  Bill of Sale. A Bill of Sale conveying to Purchaser marketable
               ------------
     title to the Personal Property in the form and substance of Exhibit "E";
                                                                 -----------

          (c)  Blanket Transfer. A Blanket Transfer and Assignment in the form
               ----------------
     and substance of Exhibit "F";
                      ----------

          (d)  Assignment and Assumption of Lease. An Assignment and Assumption
               ----------------------------------
     of Lease in the form and substance of Exhibit "G", assigning to Purchaser
                                           -----------
     all of Seller's right, title, and interest in and to the Lease and the
     rents thereunder (and which shall provide among other things that Seller
     shall remain liable for its environmental indemnity to Tenant under the
     Lease);

          (e)  Seller's Affidavit. A customary seller's affidavit in the form
               ------------------
     required by the Title Company to satisfy the requirements of its commitment
     and the endorsements contemplated by paragraph 7 hereof;

          (f)  FIRPTA Certificate. A FIRPTA Certificate in such form as
               ------------------
     Purchaser shall reasonably approve;

          (g)  Certificates of Occupancy. The original Certificates of occupancy
               -------------------------
     for all space within the Improvements;

          (h)  Marked Title Commitment. The Title Commitment, marked to change
               -----------------------
     the effective date

                                       7
<PAGE>

     thereof through the date and time of recording the Assignment and
     Assumption of Ground Lease, to reflect that Purchaser is vested with a
     subleasehold interest in the Land and the Improvements, and to reflect that
     all requirements for the issuance of the final title policy pursuant to
     such Title Commitment have been satisfied;

          (i)  Keys and Records. All of the keys to any doors or locks on the
               ----------------
     Property and the original tenant files and other books and records relating
     to the Property in Seller's possession;

          (j)  Tenant Notice. Notice from Seller to the Tenant of the sale of
               -------------
     the Property to Purchaser in such form as Purchaser shall reasonably
     approve;

          (k)  Settlement Statement. A settlement statement setting forth the
               --------------------
     amounts paid by or on behalf of and/or credited to each of Purchaser and
     Seller pursuant to this Agreement;

          (l)  Other Documents. Such other documents as shall be reasonably
               ---------------
required by Purchaser's counsel.

     12.  Purchaser's Closing Documents. Purchaser shall obtain or execute and
          -----------------------------
deliver to Seller at Closing the following documents, all of which shall be duly
executed and acknowledged where required and shall survive the Closing:

          (a)  Assignment and Assumption of Ground Lease. The Assignment
               -----------------------------------------
and Assumption of Ground Lease;

          (b)  Blanket Transfer. The Blanket Transfer and Assignment;
               ----------------

          (c)  Assignment and Assumption of Lease. The Assignment and Assumption
               ----------------------------------
of Lease;

          (d)  Settlement Statement. A settlement statement setting forth the
               --------------------
amounts paid by or on behalf of and/or credited to each of Purchaser and Seller
pursuant to this Agreement; and

          (e)  Other Documents. Such other documents as shall be reasonably
               ---------------
required by Seller's counsel.

     13.  Closing Costs.  Seller shall pay the cost of the Title Commitment,
          -------------
including the cost of the examination of title to the Property made in
connection therewith, the premium for the owner's policy of title insurance
issued pursuant thereto, the cost of any transfer or documentary tax imposed by
any jurisdiction in which the Property is located, the cost of the as-built
survey, the attorneys' fees of Seller, and all other costs and expenses incurred
by Seller in closing and consummating the purchase and sale of the Property
pursuant hereto. Purchaser shall pay the attorneys' fees of Purchaser, and all
other costs and expenses incurred by Purchaser in closing and consummating the
purchase and sale of the Property pursuant hereto.  Each party shall pay one-
half of any escrow fees.

     14.  Prorations.  The following items shall be prorated and/or credited
          ----------
between Seller and Purchaser as of Midnight preceding the date of Closing:

          (a)  Rents. Rents, additional rents, and other income of the Property
               -----
     (other than security deposits, which shall be assigned and paid over to
     Purchaser) collected by Seller from Tenant for the month of Closing.
     Purchaser shall also receive a credit against the Purchase Price payable by
     Purchaser to Seller at Closing for any rents or other sums (not including
     security deposits) prepaid by Tenant for any period following the month of
     Closing, or otherwise. All rents and other amounts paid by Seller pursuant
     to the Ground Lease for the month of Closing.

          (b)  Property Taxes. To the extent the same are not paid by Tenant,
               --------------
     City, state, county, and school district ad valorem taxes based on the ad
     valorem tax bills for the Property, if then available, or if

                                       8
<PAGE>

     not, then on the basis of the latest available tax figures and information.
     Should such proration be based on such latest available tax figures and
     information and prove to be inaccurate upon receipt of the ad valorem tax
     bills for the Property for the year of Closing, either Seller or Purchaser,
     as the case may be, may demand at any time after Closing a payment from the
     other correcting such malapportionment. In addition, if after Closing there
     is an adjustment or reassessment by any governmental authority with respect
     to, or affecting, any ad valorem taxes for the Property for the year of
     Closing or any prior year, any additional tax payment for the Property
     required to be paid with respect to the year of Closing shall be prorated
     between Purchaser and Seller and any such additional tax payment for the
     Property for any year prior to the year of Closing shall be paid by Seller.
     This agreement shall expressly survive the Closing.

          (c)  Utility Charges. Except for utilities which are the
               ---------------
     responsibility of Tenant, Seller shall pay all utility bills received prior
     to Closing and shall be responsible for utilities furnished to the Property
     prior to Closing. Purchaser shall be responsible for the payment of all
     bills for utilities furnished to the Property subsequent to the Closing.
     Seller and Purchaser hereby agree to prorate and pay their respective
     shares of all utility bills received subsequent to Closing, which agreement
     shall survive Closing.

     15.  Purchaser's Default. In the event of default by Purchaser under the
          -------------------
terms of this Agreement, Seller's sole and exclusive remedy shall be to receive
the Earnest Money as liquidated damages and thereafter the parties hereto shall
have no further rights or obligations hereunder whatsoever. It is hereby agreed
that Seller's damages will be difficult to ascertain and that the Earnest Money
constitutes a reasonable liquidation thereof and is intended not as a penalty,
but as fully liquidated damages. Seller agrees that in the event of default by
Purchaser, it shall not initiate any proceeding to recover damages from
Purchaser, but shall limit its recovery to the retention of the Earnest Money.

  Seller's Initial /s/ JS        Purchaser's Initials /s/ LW
                   ------                             ------

     16.  Seller's Default.  In the event of default by Seller under the terms
          ----------------
of this Agreement, including, without limitation, the failure of Seller to cure
any title defects or objections, except as otherwise specifically set forth
herein, at Purchaser's option: (i) if any such defects or objections arose by,
through, or under Seller or if any such defects or objections consist of taxes,
mortgages, deeds of trust, deeds to secure debt, mechanic's or materialman's
liens, or other such monetary encumbrances, Purchaser shall have the right to
cure such defects or objections, in which event the Purchase Price shall be
reduced by an amount equal to the costs and expenses incurred by Purchaser in
connection with the curing of such defects or objections, and upon such curing,
the Closing hereof shall proceed in accordance with the terms of this Agreement;
or (ii) Purchaser shall have the right to terminate this Agreement by giving
written notice of such termination to Seller, whereupon Escrow Agent shall
promptly refund all Earnest Money to Purchaser, and Purchaser and Seller shall
have no further rights, obligations, or liabilities hereunder, except as may be
expressly provided to the contrary herein; or (iii) Purchaser shall have the
right to accept title to the Property subject to such defects and objections
with no reduction in the Purchase Price, in which event such defects and
objections shall be deemed "Permitted Exceptions"; or (iv) Purchaser may elect
to seek specific performance of this Agreement.

     17.  Condemnation.  If, prior to the Closing, all or any part of the
          ------------
Property is subjected to a bona fide threat of condemnation by a body having the
power of eminent domain or is taken by eminent domain or condemnation (or sale
in lieu thereof), or if Seller has received notice that any condemnation action
or proceeding with respect to the Property is contemplated by a body having the
power of eminent domain, Seller shall give Purchaser immediate written notice of
such threatened or contemplated condemnation or of such taking or sale, and
Purchaser may by written notice to Seller given within thirty (30) days of the
receipt of such notice from Seller, elect to cancel this Agreement. If Purchaser
chooses to cancel this Agreement in accordance with this Paragraph 17, then the
Earnest Money shall be returned immediately to Purchaser by Escrow Agent and the
rights, duties, obligations, and liabilities of the parties hereunder shall
immediately terminate and be of no further force and effect. If Purchaser does
not elect to cancel this Agreement in accordance herewith, this Agreement shall
remain in full force and effect and the sale of the Property contemplated by
this Agreement, less any interest taken by eminent domain or condemnation, or
sale in lieu thereof, shall be effected with no further adjustment and without
reduction of the Purchase Price, and at the Closing, Seller shall assign,
transfer, and set over to Purchaser all of the right, title, and interest of
Seller in and to any awards that have been or that may thereafter be made for
such taking.

                                       9
<PAGE>

     18.  Damage or Destruction.  If any of the Improvements shall be destroyed
          ---------------------
or damaged prior to the Closing, and the estimated cost of repair or replacement
exceeds $100,000.00 or if the Lease shall terminate as a result of such damage,
Purchaser may, by written notice given to Seller within twenty (20) days after
receipt of written notice from Seller of such damage or destruction, elect to
terminate this Agreement, in which event the Earnest Money shall immediately be
returned by Escrow Agent to Purchaser and except as expressly provided herein to
the contrary, the rights, duties, obligations, and liabilities of all parties
hereunder shall immediately terminate and be of no further force or effect. If
Purchaser does not elect to terminate this Agreement pursuant to this Paragraph
18, or has no right to terminate this Agreement (because the damage or
destruction does not exceed $100,000.00 and the Lease remains in full force and
effect), and the sale of the Property is consummated, Purchaser shall be
entitled to receive all insurance proceeds paid or payable to Seller by reason
of such destruction or damage under the insurance required to be maintained by
Seller pursuant to Paragraph 9(d) hereof (less amounts of insurance theretofore
received and applied by Seller to restoration). If the amount of said casualty
or rent loss insurance proceeds is not settled by the date of Closing, Seller
shall execute at Closing all proofs of loss, assignments of claim, and other
similar instruments to ensure that Purchaser shall receive all of Seller's
right, title, and interest in and under said insurance proceeds.

     19.  Assignment.  Purchaser's rights and duties under this Agreement shall
          ----------
not be assignable except to an affiliate of Purchaser without the consent of
Seller which consent shall not be unreasonably withheld.

     20.  Broker's Commission.  Seller has by separate agreement agreed to pay a
          -------------------
brokerage commission to CB Commercial Real Estate Group (the "Broker").
Purchaser and Seller hereby represent each to the other that they have not
discussed this Agreement or the subject matter hereof with any real estate
broker or agent other than Broker so as to create any legal right in any such
broker or agent to claim a real estate commission with respect to the conveyance
of the Property contemplated by this Agreement. Seller shall and does hereby
indemnify and hold harmless Purchaser from and against any claim, whether or not
meritorious, for any real estate sales commission, finder's fees, or like
compensation in connection with the sale contemplated hereby and arising out of
any act or agreement of Seller, including any claim asserted by Brokers and any
broker or agent claiming under Broker.  Likewise, Purchaser shall and does
hereby indemnify and hold harmless Seller from and against any claim, whether or
not meritorious, for any real estate sales commission, finder's fees, or like
compensation in connection with the sale contemplated hereby and arising out of
any act or agreement of Purchaser, except any such claim asserted by Broker and
any broker or agent claiming under Broker. This Paragraph 20 shall survive the
Closing or any termination of this Agreement.

     21.  Notices.  Wherever any notice or other communication is required or
          -------
permitted hereunder, such notice or other communication shall be in writing and
shall be delivered by telecopy, overnight courier, by hand, or sent by U.S.
registered or certified mail, return receipt requested, postage prepaid, to the
addresses set out below or at such other addresses as are specified by written
notice delivered in accordance herewith:

     PURCHASER:          c/o Wells Capital, Inc.
                         6200 The Corners Parkway, Suite 250
                         Norcross, Georgia 30092
                         Attn: Chief Investment Officer

     with a copy to:     O'Callaghan & Stumm LLP
                         127 Peachtree Street, N. E., Suite 1330
                         Atlanta, Georgia 30303
                         Attn: William L. O'Callaghan, Esq.

     SELLER:             Ryan Companies US, Inc.
                         700 International Centre
                         900 Second Avenue South
                         Minneapolis, MN 55402-3387
                         Attn: Timothy M. Gray

                                       10
<PAGE>

     with a copy to :    Ryan Companies US, Inc.
                         700 International Centre
                         900 Second Avenue South
                         Minneapolis, MN 55402-3387
                         Attn: Dennis Buratti, Esq.

Any notice or other communication mailed as herein above provided shall be
deemed effectively given or received on the date of delivery, if delivered by
telecopy, hand or by overnight courier, or otherwise on the third (3rd) business
day following the postmark date of such notice or other communication.

     22.  Possession.  Possession of the Property shall be granted by Seller to
          ----------
Purchaser on the date of Closing, subject only to the Lease and the Permitted
Exceptions.

     23.  Time Periods.  If the time period by which any right, option, or
          ------------
election provided under this Agreement must be exercised, or by which any act
required hereunder must be performed, or by which the Closing must be held,
expires on a Saturday, Sunday, or holiday, then such time period shall be
automatically extended through the close of business on the next regularly
scheduled business day.

     24.  Survival of Provisions.  All covenants, warranties, and agreements set
          ----------------------
forth in this Agreement shall survive the execution or delivery of any and all
deeds and other documents at any time executed or delivered under, pursuant to,
or by reason of this Agreement, and shall survive the payment of all monies made
under, pursuant to, or by reason of this Agreement for a period of two years
from Closing except with respect to paragraphs 8(u) and 31 which shall survive
for an unlimited time.

     25.  Severability.  This Agreement is intended to be performed in
          ------------
accordance with, and only to the extent permitted by, all applicable laws,
ordinances, rules, and regulations. If any provision of this Agreement, or the
application thereof to any person or circumstance, shall, for any reason and to
any extent be invalid or unenforceable, the remainder of this Agreement and the
application of such provision to other persons or circumstances shall not be
affected thereby but rather shall be enforced to the greatest extent permitted
by law.

     26.  Authorization.  Purchaser represents to Seller that this Agreement has
          -------------
been duly authorized and executed on behalf of Purchaser and constitutes the
valid and binding agreement of Purchaser, enforceable in accordance with its
terms, and all necessary action on the part of Purchaser to authorize the
transactions herein contemplated has been taken, and no further action is
necessary for such purpose.

     27.  General Provisions.  No failure of either party to exercise any power
          ------------------
given hereunder or to insist upon strict compliance with any obligation
specified herein, and no custom or practice at variance with the terms hereof,
shall constitute a waiver of either party's right to demand exact compliance
with the terms hereof. This Agreement contains the entire agreement of the
parties hereto, and no representations, inducements, promises, or agreements,
oral or otherwise, between the parties not embodied herein shall be of any force
or effect. Any amendment to this Agreement shall not be binding upon the parties
hereto unless such amendment is in writing and executed by all parties hereto.
The provisions of this Agreement shall inure to the benefit of and be binding
upon the parties hereto and their respective heirs, legal representatives,
successors, and assigns. Time is of the essence of this Agreement. This
Agreement may be executed in multiple counterparts, each of which shall
constitute an original, but all of which taken together shall constitute one and
the same agreement. The headings inserted at the beginning of each paragraph are
for convenience only, and do not add to or subtract from the meaning of the
contents of each paragraph. This Agreement shall be construed and interpreted
under the laws of the State of Arizona. Except as otherwise provided herein, all
rights, powers, and privileges conferred hereunder upon the parties shall be
cumulative but not restrictive to those given by law. All personal pronouns used
in this Agreement, whether used in the masculine, feminine, or neuter gender
shall include all genders, and all references herein to the singular shall
include the plural and vice versa.

     29.  Effective Date.  The "effective date" of this Agreement shall be
          --------------
deemed to be the date set forth in the preamble of this Agreement.

     30.  Duties as Escrow Agent.  In performing its duties hereunder, Escrow
          ----------------------
Agent shall not incur any liability to anyone for any damages, losses or
expenses, except for its gross negligence or willful misconduct, and it shall
accordingly not incur any such liability with respect to any action taken or
omitted in good faith upon advice

                                       11
<PAGE>

of its counsel or in reliance upon any instrument, including any written notice
or instruction provided for in this Agreement, not only as to its due execution
and the validity and effectiveness of its provision, but also as to the truth
and accuracy of any information contained therein that Escrow Agent shall in
good faith believe to be genuine, to have been signed or presented by a proper
person and to conform to the provisions of this Agreement. Seller and Purchaser
hereby agree to indemnify and hold harmless Escrow Agent against any and all
losses, claims, damages, liabilities and expenses, including reasonable costs of
investigation and legal fees and disbursements, that may be imposed upon Escrow
Agent or incurred by Escrow Agent in connection with its acceptance or
performance of its duties hereunder as escrow agent, including without
limitation, any litigation arising out of this Agreement. If any dispute shall
arise between Seller and Purchaser sufficient in the discretion of Escrow Agent
to justify its doing so, Escrow Agent shall be entitled to tender into the
registry or custody of the clerk of the Court for the county in which the
Property is located or the clerk for the United States District Court having
jurisdiction over the county in which the Property is located, any or all money
(less any sums required to pay Escrow Agent's attorneys' fees in filing such
action), property or documents in its hands relating to this Agreement, together
with such pleadings as it shall deem appropriate, and thereupon be discharged
from all further duties under this Agreement. Seller and Purchaser shall bear
all costs and expenses of any such legal proceedings.

     31.  Expansion.  If Buyer proposes to expand the building which is a part
          ---------
of the Property, it will negotiate in good faith with Seller to provide
design/build services with respect to such expansion and will contract with
Seller for such work if its proposal therefor is competitive and is otherwise
approved by the Tenant.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the day, month and year first above written.

               "SELLER":

               RYAN COMPANIES US, INC.

               By:  /s/ John Strittmatter
                    ---------------------

               Its: V. President
                    ---------------------

               "PURCHASER":

               WELLS CAPITAL, INC.

               By: /s/ Leo F. Wells, III
                   ----------------------

               Its: President
                   ----------------------

               "ESCROW AGENT":

               OLD REPUBLIC TITLE AGENCY

               By:  _____________________

               Its:  ____________________

                                       12<PAGE>

                                                                   EXHIBIT 10.67

                      AGREEMENT FOR PURCHASE AND SALE OF

                                DELPHI BUILDING
<PAGE>

                AGREEMENT FOR THE PURCHASE AND SALE OF PROPERTY
                -----------------------------------------------

     THIS AGREEMENT FOR THE PURCHASE AND SALE OF PROPERTY (the "Agreement"), is
made and entered into as of the _____ day of June, 2000, by and between TROY
DEVELOPMENT #2, LLC, a Colorado limited liability company ("Seller") and WELLS
OPERATING PARTNERSHIP, L.P., a Delaware limited partnership ("Purchaser").

                             W I T N E S S E T H:
                             - - - - - - - - - -

     WHEREAS, Seller desires to sell and Purchaser desires to purchase the
Property (as hereinafter defined) subject to the terms and conditions
hereinafter set forth.

     NOW, THEREFORE, for and in consideration of the premises, the mutual
agreements contained herein, the sum of Ten Dollars ($10.00) in hand paid by
Purchaser to Seller at and before the sealing and delivery of these presents and
for other good and valuable consideration, the receipt, adequacy, and
sufficiency which are hereby expressly acknowledged by the parties hereto, the
parties hereto do hereby covenant and agree as follows:

     1.   Purchase and Sale of Property. Subject to and in accordance with the
          -----------------------------
terms and provisions of this Agreement, Seller hereby agrees to sell to
Purchaser and Purchaser hereby agrees to purchase from Seller, the Property,
which term "Property" shall mean and include the following:

          (a) all that tract or parcel of land (the "Land") located in Troy,
Oakland County, Michigan, generally located at the intersection of Long Lake
Road and Corporate Drive and being more particularly described on Exhibit "A"
                                                                  -----------
hereto; and

          (b) all rights, privileges, and easements appurtenant to the Land,
including all water rights, mineral rights, reversions, or other appurtenances
to said Land to the extent owned by Seller, and all right, title, and interest
of Seller, if any, in and to any land lying in the bed of any street, road,
alley, or right-of-way, open or proposed, adjacent to or abutting the Land
(collectively, the "Appurtenances"); and

          (c) all buildings, structures, and improvements situated on the Land,
including, without limitation, that certain three story building containing
approximately 107,152 rentable square feet, parking areas containing
approximately 403 parking spaces and other amenities to be constructed on the
Land and owned by Seller, and all apparatus, built-in appliances, equipment,
pumps, machinery, plumbing, heating, air conditioning, electrical and other
fixtures on the Land and owned by Seller (specifically excluding those owned by
any tenant) (all of which are herein collectively referred to as the
"Improvements"); and
<PAGE>

          (d) all personal property now owned by Seller and located on or to be
located on or in, the Land and Improvements (specifically excluding any and all
personal property owned by any tenant) ("Personal Property"); and

          (e) all of Seller's right, title, and interest, as landlord or lessor,
in and to that certain lease agreement (the "Lease") with DELPHI AUTOMOTIVE
SYSTEMS LLC ("Tenant"), dated March 22, 2000; and

          (f) all of Seller's right, title, and interest in and to the plans and
specifications with respect to the Improvements (the "Plans and Specifications")
and any guarantees, trademarks, rights of copyright, warranties, or other rights
related to the ownership of or use and operation of the Land, Personal Property,
or Improvements, all governmental licenses and permits, and all intangibles
associated with the Land, Personal Property, and Improvements, including the
name of the Improvements and the logo therefor, if any; and

          (g) all of Seller's right, title and interest in and to the contracts
described on Exhibit "B" hereto (the "Contracts"), to the extent the same
             -----------
survive Closing or require performance after Closing.

     2.   Earnest Money. Within two (2) business days after the full execution
          -------------
of this Agreement, Purchaser shall deliver to Metropolitan Title Company
("Escrow Agent"), whose offices are at 1400 N. Woodward, Suite 135, Bloomfield
Hills, MI 48304, earnest money in the amount of $540,000 (which may be paid in
the form of a check payable to Escrow Agent)(the "Deposit"). Escrow Agent shall
immediately convert any portion of the Deposit paid by check, to cash and shall
hold the Deposit in an interest bearing account. The Deposit, together with all
interest accrued thereon shall hereinafter be referred to as the "Earnest
Money." Escrow Agent shall hold and disburse the Earnest Money in accordance
with this Agreement. The Earnest Money shall be paid by Escrow Agent to Seller
at Closing (as hereinafter defined) and shall be applied as a credit to the
Purchase Price (as hereinafter defined), or shall otherwise be paid to Seller or
refunded to Purchaser in accordance with the terms of this Agreement.

     3.   Purchase Price. Subject to adjustment and credits as otherwise
          --------------
specified in this Agreement, the purchase price (the "Purchase Price") to be
paid by Purchaser to Seller for the Property shall be NINETEEN MILLION EIGHT
HUNDRED THOUSAND AND 00/100 DOLLARS ($19,800,000.00). The Purchase Price shall
be paid by Purchaser to Seller at the Closing (as hereinafter defined) by wire
transfer of immediately available federal funds, less the amount of Earnest
Money and subject to prorations, adjustments and credits as otherwise specified
in this Agreement.

                                       2
<PAGE>

     4.  Purchaser's Inspection and Review Rights. Purchaser and its agents,
         ----------------------------------------
engineers, or representatives, with Seller's reasonable, good faith cooperation,
shall have the privilege of going upon the Property as needed to inspect,
examine, test, and survey the Property at all reasonable times and from time to
time provided Landlord's or Tenant's construction activities are in no manner
impaired by Purchaser. Purchaser hereby agrees to hold Seller harmless from any
liens, claims, liabilities, and damages incurred through the exercise of such
privilege, and Purchaser further agrees to repair any damage to the Property
caused by the exercise of such privilege. Upon 24 hours prior notice to Seller,
Seller shall make available to Purchaser, or Purchaser's agents and
representatives, for review and copying, at a reasonable time, all books,
records, and files in Seller's possession relating to the  ownership and
operation of the Property, but specifically excluding Seller's internal books
and records such as budgets and proprietary information relating to the
construction of the Improvements, and specifically including, without
limitation, title matters, surveys, tenant files, the Plans and Specifications,
the Lease, any brokerage or other commission agreements relating to the Lease,
any financial statements of Tenant delivered in connection with the Lease,
service and maintenance agreements, architectural agreements relating to the
Improvements, and other contracts, books, records, operating statements, and
other information relating to the management of the Property. Seller further
agrees to in good faith assist and cooperate with Purchaser in its review of the
books, records, and files relating to the Property. Seller has provided
Purchaser with copies of recent surveys of the Land and Improvements and any
appraisals, building inspection reports and environmental reports relating
thereto and in the possession or under the control of Seller.

     5.  Special Condition to Closing.  During the period commencing as of the
         -----------------------------
effective date of this Agreement and ending on June 29, 2000 (the "Inspection
Period"), Purchaser shall have the right to make investigations, examinations,
inspections, market studies, feasibility studies, lease reviews, and tests
relating to the Property and the operation thereof in order to determine, in
Purchaser's sole opinion and discretion, the suitability of the Property for
acquisition by Purchaser.  Such investigations may include, without limitation,
confirmation that all requisite zoning and other approvals relating to the Land
or to the construction of the Improvements have been obtainted, testing and
analysis as to the environmental condition of the Land and Improvements by an
environmental or geotechnical engineer satisfactory to Purchaser, and
confirmation that access to the Property is available by publicly dedicated
rights-of-way or other methods acceptable to Purchaser. Purchaser shall have the
right to terminate this Agreement at any time prior to the expiration of the
Inspection Period by giving written notice to Seller of such election to
terminate.  In the event Purchaser so elects

                                       3
<PAGE>

to terminate this Agreement, (i) Seller shall be entitled to receive and retain
the sum of Twenty-Five Dollars ($25.00) of the Earnest Money, (ii) the balance
of the Earnest Money shall be promptly refunded by Escrow Agent to Purchaser
(iii) except for those provisions which expressly survive termination in this
Agreement, no party hereto shall have any other or further rights or obligations
under this Agreement, and (iv) Purchaser shall return all information delivered
to Purchaser by Seller or copied by Purchaser from Seller's files and deliver to
Seller copies of any and all other materials prepared by or for Purchaser in
connection with the Land or Improvements. Seller acknowledges that the sum of
$25.00 is good and adequate consideration for the termination rights granted to
Purchaser hereunder. In the event Purchaser fails for any reason to timely
deliver written notice of its election to terminate prior to expiration of the
Inspection Period, Purchaser's right to terminate this Agreement pursuant to
this Paragraph shall expire and thereafter the Earnest Money shall become non-
refundable to Purchaser except in the event Seller is unable or unwilling to
deliver title to the Real Estate, subject only to the Permitted Exceptions (as
hereinafter defined) to Purchaser at Closing through no fault of Purchaser or
Seller is otherwise in default of its obligations hereunder.

     6.   General Conditions Precedent to Purchaser's Obligations Regarding the
          ---------------------------------------------------------------------
Closing. In addition to the condition to Purchaser's obligations set forth in
-------
Paragraph 5 above, the obligations and liabilities of Purchaser hereunder shall
in all respects be conditioned upon the satisfaction of each of the following
conditions, any of which may be waived by written notice from Purchaser to
Seller:

          (a) Seller shall have complied in all material respects with and
otherwise performed in all material respects each of the covenants and
obligations of Seller set forth in this Agreement, as of the Closing Date (as
hereinafter defined).

          (b) All representations and warranties of Seller as set forth in this
Agreement shall be true and correct in all material respects as of the Closing
Date.

          (c) There shall have been no adverse change to title to the Property
which has not been cured and Title Company (as hereinafter defined) shall have
issued the Title Commitment (as hereinafter defined) on the Land and
Improvements without exceptions other than as described in Section 7, and Title
Company shall be prepared to issue to Purchaser upon the Closing a fee simple
owner's title insurance policy on the Land and Improvements pursuant to such
Title Commitment.

          (d) Purchaser shall have received a written

                                       4
<PAGE>

statement signed by Tenant under the Lease certifying that the Lease is
unmodified and in full force and effect (or, if there have been modifications,
that the same is in full force and effect as modified stating the
modifications); that there have been no defaults of the Lease by Landlord or
Tenant; and the date to which rent has been paid in advance Seller shall request
that Tenant execute the form of Tenant Estoppel Certificate attached hereto as
Exhibit "E" (the "Tenant Estoppel Certificate"). Seller agrees to use
-----------
commercially reasonable efforts to obtain the Tenant Estoppel Certificate from
Tenant. Purchaser agrees to accept Seller's certification as to matters therein
(other than those set forth in paragraphs 1,2 and 3 thereof) which Tenant
declines to give.

          (e) Seller shall have caused the Lease to be amended or otherwise
obtained the written waiver signed by Tenant so that Article 58 and Exhibit K of
the Lease  (relating to a right of first offer) shall have been waived, released
and deleted therefrom.

          (f) Seller shall have caused its architect (the  "Architect") to
execute and deliver to Purchaser a certificate in substantially the form and
content of Exhibit K hereto (the  "Architect's Certificate").
           ---------

          (g) The Tenant Improvements (as defined in the Lease) shall have been
completed, Tenant shall have executed and delivered the Commencement Memorandum
(as defined in the Lease), subject only to "punch list" items which the building
contractor estimates will have a cost to complete of not more than $100,000, and
payments of Base Rent (as defined in the Lease) shall have commenced.

          (h) Seller shall have obtained and delivered to Purchaser, the
certificate of authorized persons to the effect that the Improvements have been
constructed in compliance with the requirements of the instruments listed as
items 7, 8 and 9 of Schedule B-II of the "Title Commitment"  (as hereinafter
defined), any fees charges, assessments or the like have been paid and an
estimate of such charges which may become due in the future.

     7.   Special condition Precedent to Seller's Obligations Regarding the
          -----------------------------------------------------------------
Closing.  Seller's obligation to sell the Property to Purchaser as contemplated
-------
by this Agreement shall be expressly conditioned upon the amendment of the Lease
or Seller's having obtained a written waiver signed by Tenant so that Article 58
and Exhibit K of the Lease shall have been waived, released and deleted
therefrom.

     8.   Title and Survey.
          ----------------

          (a) Delivery of Title Commitment. Purchaser hereby
              ----------------------------

                                       5
<PAGE>

covenants and agrees that it has received, from Metropolitan Title Company, in
its capacity as agent for First American Title Insurance Company of New York (in
such capacity the "Title Company"), title commitment number CM-348326, dated as
of May 11, 2000 (herein referred to as the "Title Commitment") together with
legible copies of all documents and instruments referred to therein. Seller
shall pay for the base premium of the Title Policy. Purchaser may, at its sole
cost and expense, request and obtain affirmative coverage over any mechanic's,
materialman's and subcontractor's liens and with full extended coverage over all
general exceptions, and any other endorsements reasonably requested by Purchaser
or Purchaser's lender, including without limitation, the following: zoning
(including affirmative coverage of compliance with and any recorded covenants
and restrictions), fairway, survey, contiguity, access and single tax parcel.
Seller agrees to take reasonable actions to cause (a) Title Company to modify
Schedule B-2 exception 1 to refer to taxes and assessments for 2000 and
subsequent years which are not yet due and payable,(b) exception 10 to refer
only to Tenant, and (c) to delete exception 11 in its entirety. Further, Seller
shall take reasonable actions to satisfy the Schedule B-1 requirements. All
other matters shown on the Title Commitment or the Survey, together with all
building restrictions, zoning regulations and all other applicable laws
heretofore or hereafter adopted by any public authority relating to the Real
Estate, and any matters arising by, through or under Purchaser are hereby
defined as the "Permitted Exceptions."

          (b) Delivery of Survey. Purchaser hereby covenants and agrees that it
              ------------------
has received from Seller, an as-built survey of the Land and the Improvements
prepared by Nowak & Fraus, dated _________ ___, 2000, and last updated June ___,
2000 (the "As-built Survey"). Seller shall cause the As-built Survey to be
certified to Purchaser and Title Company, and which certification shall be
sufficient to cause Title Company to delete its standard preprinted survey
exceptions.

          (c) New Title Matters. "New Title Matters," as such term is used
              -----------------
herein, shall mean only the following matters to the extent the same are not
caused by Purchaser: (i) new matters which affect the title to the Land which
were not set forth on the Title Commitment or the Survey, and (ii) any form of
litigation or bankruptcy which is commenced or filed against Seller.  At such
time as either Seller or Purchaser gains actual knowledge of a New Title Matter,
the party gaining such knowledge shall give the other written notice of the such
new matter, providing such reasonable detail regarding such matters as may then
be available.  If at any time any New Title Matters arise, the existence of such
New Title Matters shall constitute a defect in the title of the Land which may
be objected to by Purchaser in accordance with the provisions of Section 3(d)
except that Purchaser's time

                                       6
<PAGE>

period to review and object to or accept any New Matter shall be ten (10) days
after giving or receipt of notice of the New Matter(s).

     9.   Representations and Warranties of Seller. Except as disclosed to
          ----------------------------------------
Purchaser, made available to Purchaser for copy or discovered by Purchaser prior
to Closing, Seller hereby makes the following representations and warranties to
Purchaser, each of which shall be deemed material:

          (a) Lease. Attached hereto as Exhibit "C" is a true and accurate copy
              -----                     -----------
of the Lease, together with all modifications and amendments (other than the
amendment required by this Agreement) thereto, which Lease is the only lease in
effect relating to the Property. Seller is the "landlord" under the Lease and
owns unencumbered legal and beneficial title to the Lease and the rents and
other income thereunder, subject only to the collateral assignment of the Lease
and the rents thereunder in favor of the holder of an existing mortgage or deed
of trust encumbering the Property, which mortgage or deed of trust shall be
cancelled and satisfied by Seller at the Closing.

          (b) Lease - Assignment. To Seller's actual knowledge, Tenant has not
              ------------------
assigned its interest in the Lease or sublet any portion of the premises leased
to Tenant under the Lease.

          (c) Lease - Default.(i) Seller has not received any notice of
              ---------------
termination or default under the Lease,(ii) to Seller's actual knowledge, there
are no events which with the passage of time or notice, or both, would
constitute a default by Seller or by Tenant, and Seller has complied with each
and every undertaking, covenant, and obligation of Seller under the Lease, and
(iii) Tenant has not asserted any defense, set-off, or counterclaim with respect
to its tenancy or its obligation to pay rent, additional rent, or other charges
pursuant to the Lease.

          (d) Lease - Rents and Special Consideration. Tenant:(i) has not
              ---------------------------------------
prepaid rent for more than the current month under the Lease, (ii) has not
received and is not entitled to receive any rent concession in connection with
its tenancy under the Lease other than as described in the Lease, (iii) except
for the construction of the improvements described therein, is not entitled to
any special work (not performed prior to the Closing Date),or consideration (not
yet given) in connection with its tenancy under the Lease, and (iv) does not
have any deed, option, or other evidence of any right or interest in or to the
Property, except for Tenant's tenancy as evidenced by the express terms of the
Lease, and except for the rights under Section 27 of the Lease which shall be
extinguished on or before Closing.

                                       7
<PAGE>

          (e) Lease - Commissions. All commissions payable under, relating to,
              -------------------
or as a result of the Lease for the initial Lease Term will be cashed-out and
paid and satisfied in full by Seller at or prior to Closing.

          (f) No Other Agreements.  Other than the Lease, the Contracts and the
              -------------------
Permitted Exceptions, Seller is not party to any other leases, service
contracts, management agreements, or other agreements or instruments in force
and effect, oral or written, that grant to any person whomsoever or any entity
whatsoever any right, title, interest or benefit in or to all or any part of the
Property or any rights relating to the use, operation, management, maintenance,
or repair of all or any part of the Property.

          (g) No Litigation. There are no actions, suits, or proceedings
              -------------
pending, or, to Seller's actual knowledge, threatened by any organization,
person, individual, or governmental agency against Seller with respect to the
Property or against the Property, nor does Seller know of any basis for such
action.  Seller is not a party to any pending or threatened application for
changes in the zoning applicable to the Property.

          (h) Condemnation. Seller has not received any written notice from any
              ------------
governmental authority of any actual or threatened condemnation or other taking
by eminent domain of the Property or any portion thereof.

          (i) Violations. Seller has received no written notice from any
              ----------
applicable governmental authority, which remains uncured, of any violations of
law, municipal or county ordinances, or other legal requirements with respect to
the Property.

          (j) Bankruptcy. Seller is "solvent as said term is defined by
              ----------
"bankruptcy law" and has not made a general assignment for the benefit of
creditors nor been adjudicated a bankrupt or insolvent, nor has a receiver,
liquidator, or trustee for any of Seller's properties (including the Property)
been appointed or a petition filed by or against Seller for bankruptcy,
reorganization, or arrangement pursuant to the Federal Bankruptcy Act or any
similar Federal or state statute, or any proceeding instituted for the
dissolution or liquidation of Seller.

          (k) Pre-existing Right to Acquire. Other than Purchaser, no person or
              -----------------------------
entity has any right or option to acquire the Property or any portion thereof
which will have any force or effect after the execution of this Agreement, other
than Tenant (and the foreclosure rights of the lien holders referenced in the
Title Commitment), which rights will be extinguished prior to Closing.

                                       8
<PAGE>

          (l) Effect of Certification. To Seller's actual knowledge, neither
              -----------------------
this Agreement nor the transactions contemplated herein will constitute a breach
or violation of, or default under, or will be modified, restricted, or precluded
by the Lease.

          (m) Authorization. Seller is a duly organized and validly existing
              -------------
limited liability company under the laws of the State of Colorado and is
qualified to do business in the State of Michigan. This Agreement has been duly
authorized and executed on behalf of Seller and constitutes the valid and
binding agreement of Seller, enforceable in accordance with its terms, and all
necessary action on the part of Seller to authorize the transactions herein
contemplated has been taken, and no further action is necessary for such
purpose.

          (n) Seller Not a Foreign Person. Seller is not a "foreign person"
              ---------------------------
which would subject Purchaser to the withholding tax provisions of Section 1445
of the Internal Revenue Code of 1986, as amended.

          (o) Plans and Specifications. Attached hereto as Exhibit "D" is a
              ------------------------                     -----------
complete list (to date) of all Plans and Specifications relating to the
Improvements, including all change orders, shop drawings, bulletins and other
documents varying or interpreting the architectural or other drawings.

          (p) Contracts. Except as set forth on Exhibit B attached hereto,
              ---------                         ---------
Seller is not party to any service, management or maintenance contract affecting
the Property unless such contract is either terminable by Seller (or, after the
Closing Date, by Purchaser) upon not more than thirty (30) days notice, or
which, by their terms, have been fully performed, complied with or terminated
(and are of no further force or effect) on or as of the Closing Date.  Further,
Seller shall not enter into any service, management or maintenance contract, or
amend, cancel or otherwise revise any such contract or agreement currently in
effect, without the prior written consent of Purchaser, except that Seller shall
have the right, without the consent of Purchaser, to enter into any such
contracts which are either terminable by Seller (or, after the Closing Date, by
Purchaser) upon not more than thirty (30) days notice, or which, by their terms,
have been fully performed, complied with or terminated (and are of no further
force or effect) on or as of the Closing Date.

          (q) Environmental Matters.  Seller has not released any solid waste or
              ---------------------
hazardous or toxic chemicals or any other hazardous material (as such term is
defined in the Comprehensive Environmental Response, Compensation, and Liability
Act of 1980, as amended (42 U.S.C. Section 9601, et seq.)) on the Land in
violation of any Environmental Laws. Further, Seller has received no notice from
any governmental authority having jurisdiction over the Land that the Land is

                                       9
<PAGE>

in violation of any Environmental Laws. As used herein, the term "Environmental
Laws" shall mean and include: the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, as amended (42 U.S.C. Section 9601, et
seq.), the Hazardous Materials Transportation Act, as amended (49 U.S.C. Section
1801, et seq.), the Resource Conservation and Recovery Act of 1976, as amended
(42 U.S.C. Section 6901, et seq.), any of the regulations adopted or
publications promulgated pursuant thereto, or any, state or local laws,
ordinances, rules or regulations in effect on the date hereof relating to
protection of public health, safety or the environment. To Seller's actual
knowledge, except as may be disclosed in that certain environmental site
assessment prepared by NTH CONSULTANTS, LTD, dated APRIL 27, (i) no asbestos or
asbestos containing materials have been installed, used, incorporated into, or
disposed of on the Land, (ii) no polychlorinated biphenyls are located on or in
the Property in the form of electrical transformers, fluorescent light fixtures
with ballasts, cooling oils, or any other device or form, (iii) no underground
storage tanks are located on the Land or were located on the Land and
subsequently fremoved or filled, and (iv) the Property has not previously been
used as a landfill, cemetery or as a dump for garbage or refuse.

At Closing, Seller shall represent and warrant to Purchaser that all
representations and warranties of Seller in this Agreement remain true and
correct as of the date of the Closing, except for any changes in any such
representations or warranties that occur and are disclosed by Seller to
Purchaser expressly and in writing at any time and from time to time prior to
Closing upon their occurrence.  Each and all of the express warranties,
covenants, and indemnifications made and given by Seller to Purchaser herein
shall survive the execution and delivery of the Warranty Deed by Seller to
Purchaser for nine months, except for subparagraph (q) which shall survive
indefinitely.

As used in this Agreement, to Seller's actual knowledge, or such other similar
term imparting knowledge to Seller, shall mean to the actual knowledge of Paul
Powers, Gary Arthur and/or William D. Pauls without investigation. As used in
this Agreement, where Seller has stated it has not received notice or written
notice, or such other similar term imparting receipt of notice to Seller, shall
mean that the actual notice has not been received by Paul Powers, Gary Arthur
and/or William D. Pauls.

     EXCEPT AS PROVIDED EXPRESSLY HEREIN AND IN THE DEED, NEITHER SELLER NOR
ANYONE ACTING FOR OR ON BEHALF OF SELLER, HAS MADE ANY REPRESENTATION, WARRANTY,
STATEMENT OR PROMISE TO PURCHASER CONCERNING THE PROPERTY, THE QUALITY, VALUE,
PHYSICAL ASPECTS OR CONDITION THEREOF, ANY DIMENSIONS OR SPECIFICATIONS OF THE
LAND, THE IMPROVEMENTS, OR THE PERSONAL

                                       10
<PAGE>

PROPERTY, THE FEASIBILITY, DESIRABILITY, CONVERTIBILITY OF THE PROPERTY FOR OR
INTO ANY PARTICULAR USE, THE CURRENT OR PROJECTED INCOME OR EXPENSES OF THE
PROPERTY, OR ANY OTHER MATTER WITH RESPECT TO THE PROPERTY; THAT ENTERING INTO
THIS AGREEMENT, PURCHASER IS RELYING SOLELY ON ITS OWN INVESTIGATION AND HAS NOT
RELIED UPON ANY REPRESENTATION, STATEMENT OR WARRANTY OF SELLER OR ANYONE ACTING
FOR OR ON BEHALF OF SELLER, OTHER THAN AS EXPRESSLY CONTAINED IN THIS AGREEMENT
OR THE DEED AND IS THEREBY PURCHASING THE PROPERTY AS IS; AND THAT OTHER THAN AS
EXPRESSLY CONTAINED IN THIS AGREEMENT OR THE DEED PURCHASER DOES HEREBY WAIVE
AND SELLER DOES HEREBY DISCLAIM ALL WARRANTIES OF ANY KIND OR TYPE WHATSOEVER
WITH RESPECT TO THE PROPERTY, WHETHER EXPRESSED OR IMPLIED, INCLUDING BY WAY OF
DESCRIPTION BUT NOT LIMITATION, THOSE OF MARKETABILITY, FITNESS FOR A PARTICULAR
PURPOSE, TENANTABILITY, HABITABILITY, USE AND ALL WARRANTIES RELATING TO
COMPLIANCE BY THE PROPERTY WITH ANY APPLICABLE GOVERNMENTAL LAWS AND REGULATIONS
INCLUDING, WITHOUT LIMITATION, ZONING CODES, THE SOIL CONDITIONS OF THE
PROPERTY, AND THE COMPLIANCE BY THE PROPERTY, WITH ANY ENVIRONMENTAL
REQUIREMENTS. FURTHER, PURCHASER HEREBY SPECIFICALLY ASSUMES THE RISK OF
CONFIRMING THAT THE PROPERTY CAN BE SERVED BY SUFFICIENT UTILITIES INCLUDING,
WITHOUT LIMITATION, WATER, SANITARY AND STORM SEWER, GAS, ELECTRIC, AND
TELEPHONE OR ANY OTHER UTILITY IT REQUIRES OR DESIRES.

     The terms of this Section 9 will survive the Closing and conveyance of the
Property to Purchaser by Seller.

     10.  Seller's Additional Covenants.  Seller does hereby further covenant
          -----------------------------
and agree as follows:

          (a)  Operation of Property.  Seller hereby covenants that, from the
               ---------------------
date of this Agreement up to and including the Closing Date, Seller shall: (i)
not negotiate with any third party respecting the sale of the Property or any
interest therein, (ii) not modify, amend, or terminate the Lease or enter into
any new lease, contract, or other agreement respecting the Property, except as
permitted hereunder, (iii) not grant or otherwise create or consent to the
creation of any easement, restriction, lien, assessment, or encumbrance
respecting the Property, other than utility easements or ingress/egress
easements necessary for the Property's development.

          (b)  Preservation of Lease. Seller shall, from and after the date of
               ---------------------
this Agreement to the date of Closing, use its good faith efforts to perform and
discharge all of the duties and obligations and shall otherwise comply with
every covenant and agreement of the landlord under the Lease, at Seller's
expense, in the manner and within the time limits required thereunder.

          (c)  Insurance. From and after the date of this
               ---------

                                       11
<PAGE>

Agreement to the date and time of Closing, Seller shall, at its expense, cause
to be maintained in full force and effect the insurance coverage described in
Exhibit "F".
-----------

          (d) Permits, etc. At least five (5) days prior to the Closing Date,
              -------------
Seller shall obtain and deliver to Purchaser copies of (i) a certificate of
occupancy issued by the City of Troy, Michigan in connection with the
construction of the Improvements; (ii) true and correct copies of the most
recent real estate tax bills and notices of assessed valuation pertaining to the
Improvements; (iii) true and correct copies of all insurance policies and
certificates of insurance in Seller's possession relating to the Improvements or
delivered to Seller by Tenant.

          (e) CAD Disk.  On or before the Closing Date, Seller shall request
              ---------
that the Building's contractor deliver to Purchaser as-built drawings depicting
the Improvements as constructed, to be delivered on a CAD disk if reasonably
available.

          (f) Assignment of Contracts. With respect to the Contracts and
              -----------------------
warranties which are being assigned to Purchaser which require the consent of
parties to the warranty or contract, there shall have been delivered to
Purchaser, at or prior to the Closing, written instruments from the contracting
parties whereby they consent to the assignment of the contract, warranties and
guaranties.

          (g) Covenant to Satisfy Conditions; Effect of Failure to Satisfy.
              ------------------------------------------------------------
Seller hereby agrees to use commercially reasonable efforts to cause each of the
conditions precedent to the obligations of Purchaser to be fully satisfied,
performed and discharged, on and as of the Closing Date.

          (h) Completion of Construction. Seller represents and warrants that it
              --------------------------
has completed the construction of the core and shell portion of the Improvements
and has commenced construction of the Tenant Improvements to be constructed and
installed by Landlord pursuant to the Work Letter attached as Exhibit D to the
Lease, which Seller hereby agrees to diligently complete). Seller further agrees
to escrow with Title Company at Closing an amount equal to one hundred ten
percent (110%) of the amount of the "Allowance" (as defined in the Work Letter)
remaining available to Tenant as of the Closing Date, which escrowed amount
shall be paid to Landlord not later than 20 days following Seller's submission
to Purchaser and Title Company of statements and reasonable supporting
documentation (including conditional lien waivers, sworn statements and
underlying invoices for items for which payment is being requested. Upon
completion of the Tenant Improvements, including Punch list Items, which Seller
agrees to diligently complete, any funds remaining in such escrow shall be
released to Seller.

                                       12
<PAGE>

          (i) Action with Respect to the Property. Seller shall not in any
              -----------------------------------
manner sell, convey, assign, transfer or encumber the Improvements or the Lease
or any part thereof or interest therein (except to secure, refinance or extend
any existing construction loan which shall be paid off on or before Closing), or
otherwise dispose of the Improvements or the Lease, or any part thereof or
interest therein, or alter or amend the zoning classification of the
Improvements, or otherwise perform or permit any act or deed which shall
materially diminish, encumber or affect Seller's rights in and to the
Improvements or prevent it from performing fully its obligations hereunder, nor
enter into any agreement to do so.

          (j) Books and Records. Seller shall continue to maintain its books and
              -----------------
records with respect to the operation of Improvements, in the same manner as it
has prior to the date of this Agreement.

          (k) Purchaser's Access. At all reasonable times and upon the request
              ------------------
by Purchaser, Seller shall grant to Purchaser and its engineers, architects and
other agents or representatives of Purchaser, access to the Improvements for the
purpose of making a physical inspection thereof, and each of its component
parts; provided, however, all such persons shall comply with reasonable safety
requirements of Seller and shall not in any way interfere with the construction
or operations of Tenant, and Seller shall have no liability or obligation to any
of such persons for any injury or loss suffered while said persons are upon the
Improvements. Purchaser shall restore the Land to its condition existing
immediately before Purchaser's entry upon the Land, and Purchaser shall
indemnify and defend Seller against and hold Seller harmless from all claims,
demands, liabilities, losses, damages, costs and expenses, including reasonable
attorneys' fees and disbursements (collectively, "Claims"), in any manner
                                                  ------
arising from or caused by Purchaser in connection with entry on the Land by
Purchaser pursuant hereto; provided, however, Purchaser's foregoing obligations
shall not include any obligation or duty with respect to Claims (including
Claims that the Land has declined in value) arising out of, resulting from or
incurred in connection with (i) the discovery or presence of any Hazardous
Substances on the Land not brought on the Land by Purchaser or the Release
(other than by Purchaser) of any Hazardous Substances on the Land, or (ii) the
results, findings, tests or analyses of Purchaser's environmental investigation
of the Land.

          (l) Default Notices. Seller shall deliver or cause to be delivered to
              ---------------
Purchaser, promptly upon receipt thereof by Seller, copies of any written
notices of default, or the occurrence of any event which could result in a
Default under the Lease, or any construction loan, mortgage, lease, contract or
agreement now or at any time hereafter in effect with respect to the
Improvements, and shall report to

                                       13
<PAGE>

Purchaser, from time to time, the status of any alleged default thereunder.
Seller shall advise Purchaser in writing, promptly upon obtaining actual
knowledge of the occurrence of any event or circumstance which constitutes a
breach of any of the representations or warranties or covenants of Seller herein
contained, which notice shall describe the nature of such event or circumstance
in reasonable detail. Seller shall advise Purchaser promptly in writing of the
receipt, by Seller or any of its affiliates, of notice of: (i) the institution
or threatened institution of any judicial, quasi-judicial or administrative
inquiry or proceeding with respect to the Improvements; (ii) any notice of
violation issued by any governmental or quasi-governmental authority with
respect to the Improvements, (iii) any proposed special assessments, or (iv) any
defects or inadequacies in the Improvements or any part thereof issued by any
insurance company or fire rating bureau.

          (m) Warranties. With respect to any warranties or guaranties relating
              ----------
to the Improvements which are assigned, or required to be assigned, to Purchaser
pursuant to Section 1(f), or otherwise, and which, by their terms or otherwise
expire, terminate or lapse at any time prior to the date which is one year
following the Substantial Completion Date (as defined in the Lease) (the
"Warranty Date"), Seller hereby assumes and agrees to pay, perform and discharge
all of the liabilities and obligations of the various contractors, suppliers and
others providing warranties or guarantees as above provided for the period from
the date of expiration thereof to and including the Warranty Date, it being the
intention of the parties hereto that such guarantees or warranties which have
expired, terminated or lapsed prior to the Warranty Date shall be extended by
the provisions of this Subsection and shall be the liability and obligation of
Seller during such extended period.

          (n) Punch List Work. The parties acknowledge that certain portions of
              ---------------
the building and the building equipment constituting a part of the Improvements
may not have been finally completed on the Closing Date. Accordingly, the
Architect shall determine the amount (the "Punch List Amount") as may be
necessary to (i) satisfactorily complete any items of construction, or to
provide any items of building equipment, required by the Plans and
Specifications which, while substantially complete, have not been finally
completed or provided on the Closing Date; (ii) satisfactorily complete any
landscaping required by the Plans and Specifications which cannot then be
completed on account of weather or the season and (iii) correct any material
defects in the design or construction of the Improvements or the materials
incorporated therein (the "Punch List Work"). As expeditiously and prudently as
possible after the Closing Date, Seller shall complete, or cause to be
completed, all of the Punch List Work. Seller's covenant to complete the Punch
List Work shall

                                       14
<PAGE>

survive the Closing and any release of construction holdbacks by Tenant under
the Lease.

     11.  Closing.  Provided that all of the conditions set forth in this
          -------
Agreement are theretofore fully satisfied or performed, it being fully
understood and agreed, however, that Purchaser may expressly waive in writing,
at or prior to Closing, any conditions that are unsatisfied or unperformed at
such time, the consummation of the sale by Seller and purchase by Purchaser of
the Property (herein referred to as the "Closing") shall be held at 9:00 a.m.,
local time, on June 29, 2000, at the offices of Title Company, or at such
earlier time as shall be designated by Purchaser in a written notice to Seller
not less than two (2) business days prior to Closing.  The date of Closing is
referred to herein as the "Closing Date." The Purchase Price shall arrive in
good funds no later than noon Central Standard Time on the Closing Date, or
prorations shall be adjusted by one day.  The Closing shall take place through
an escrow established with Title Company (the "Escrow") by means of a so-called
New York style closing, with the concurrent delivery of Seller's deed and other
documents of title, the delivery of the Title Policy (or marked title
commitment) described below, and the payment of the Purchase Price.

     12.  Seller's Closing Documents.  For and in consideration of, and as a
          --------------------------
condition precedent to, Purchaser's delivery to Seller of the Purchase Price
described in Paragraph 3 hereof, Seller shall obtain or execute, at Seller's
expense, and deliver to Purchaser at Closing the following documents (all of
which shall be duly executed, acknowledged, and notarized where required and
shall survive the Closing):

          (a) Special or Limited Warranty Deed. A Michigan statutory warranty
              --------------------------------
deed in the form attached hereto as Exhibit "G"("Deed") conveying insurable fee
                                    -----------
simple title to the Land, the Appurtenances, and the Improvements to Purchaser,
subject only to the Permitted Exceptions. The legal description set forth in the
Deed shall be as set forth on Exhibit "A". In the event Purchaser shall obtain a
                              -----------
new or updated survey of the Land and Improvements and the legal description set
forth in Purchaser's survey shall differ from the legal description set forth on
Exhibit "A", the Deed shall convey title by the legal description based upon
-----------
such survey, provided that in no event shall Seller be obligated to convey more
Land than it currently owns;

          (b) Bill of Sale. A Bill of Sale conveying to Purchaser title to the
              ------------
Personal Property in the form and substance of Exhibit "H";
                                               -----------

          (c) Blanket Transfer. A Blanket Transfer and Assignment in the form
              ----------------
and substance of Exhibit "I";
                 -----------

                                       15
<PAGE>

          (d) Assignment and Assumption of Lease. An Assignment and Assumption
              ----------------------------------
of Lease in the form and substance of Exhibit "J", assigning to Purchaser all of
                                      -----------
Seller's right, title, and interest in and to the Lease and the rents thereunder
and pursuant to which Purchaser shall assume all obligations under the Lease
accruing after the date of said assignment;

          (e) Seller's Affidavit. A customary seller's affidavit in the form
              ------------------
requested by Title Company, with such modifications as are generally accepted by
Title Company;

          (f) FIRPTA Certificate. A FIRPTA Certificate in evidencing that Seller
              ------------------
is not a non-United States company;

          (g) Certificates of Occupancy. The original certificate of occupancy
              -------------------------
on the core and shell of the Building, less tenant improvements which are the
responsibility of the Tenant under the Lease;

          (h)  Marked Title Commitment.  The Title Commitment, marked to update
               -----------------------
the effective date thereof through the date and time of recording the Deed from
Seller to Purchaser, to reflect that Purchaser is vested with fee simple title
to the Land, the Appurtenances and the Improvements, and to reflect that all
requirements for the issuance of the final title policy contemplated by the
Title Commitment have been satisfied.

          (i) Keys and Records.  The original tenant files and other books and
              ----------------
records (other than matters solely between Seller and the general contractor
relating to the construction contract) relating to the Property in Seller's
possession;

          (j) Tenant Notice. Notice from Seller to Tenant of the sale of the
              -------------
Property to Purchaser in such form as Purchaser shall reasonably approve;

          (k) Settlement Statement. A settlement statement setting forth the
              --------------------
amounts paid by or on behalf of and/or credited to each of Purchaser and Seller
pursuant to this Agreement; and

          (l) Other Documents. Such other documents as shall be reasonably
              ---------------
required by Purchaser's counsel.

     13.  Purchaser's Closing Documents. Purchaser shall obtain or execute and
          -----------------------------
deliver to Seller at Closing the following documents, all of which shall be duly
executed and acknowledged where required and shall survive the Closing:

          (a) Blanket Transfer. The Blanket Transfer and Assignment;
              ----------------

                                       16
<PAGE>

          (b) Assignment and Assumption of Lease. The Assignment and Assumption
              ----------------------------------
of Lease;

          (c) Settlement Statement. A settlement statement setting forth the
              --------------------
amounts paid by or on behalf of and/or credited to each of Purchaser and Seller
pursuant to this Agreement; and

          (d) Other Documents. Such other documents as shall be reasonably
              ---------------
required by Seller's counsel.

     14.  Closing Costs. Seller shall pay the base premium for the Title Policy,
          -------------
including the cost of the examination of title to the Property made in
connection therewith but excluding the cost of any endorsements requested by
Purchaser, one-half of the cost of any transfer or documentary tax imposed by
any jurisdiction in which the Property is located, the attorneys' fees of
Seller, and all other costs and expenses incurred by Seller in closing and
consummating the purchase and sale of the Property pursuant hereto. Purchaser
shall pay the attorneys' fees of Purchaser, one-half of the cost of any transfer
or documentary tax imposed by any jurisdiction in which the Property is located,
the cost of any endorsements it requires for the Title Policy, the cost of any
mortgagee Title Policy and all other costs and expenses incurred by Purchaser in
closing and consummating the purchase and sale of the Property pursuant hereto.
Each party shall pay one-half of any escrow fees.

     15.  Prorations. The following items shall be prorated and/or credited
          ----------
between Seller and Purchaser as of Midnight preceding the date of Closing:

          (a) Rents. Rents, additional rents, and other income of the Property
              -----
(other than security deposits, which shall be assigned and paid over to
Purchaser) collected by Seller from Tenant for the month of Closing. Purchaser
shall also receive a credit against the Purchase Price payable by Purchaser to
Seller at Closing for any rents or other sums (not including security deposits)
prepaid by Tenant to Seller for any period following the month of Closing, or
otherwise.

          (b) Property Taxes. Except for such taxes which are the responsibility
              --------------
of Tenant, City, state, county, and school district ad valorem taxes based on
the ad valorem tax bills for the Property and routine annual special assessments
shall be prorated on a "due date basis", with the intent that, all taxes shall
be prorated such that Seller shall be obligated to pay all taxes attributable to
the Land prior to the date of Closing, and Purchaser shall be obligated to pay
all taxes attributable to the Land from and after the date of Closing. If
current year tax information is not then available, prorations shall be made on
the basis of the latest

                                       17
<PAGE>

available tax figures and information. Should such proration be based on the
latest available tax figures and information and prove to be inaccurate upon
receipt of the ad valorem tax bills for the Property for the year of Closing,
either Seller or Purchaser, as the case may be, may demand at any time after
Closing a payment from the other correcting such malapportionment. In addition,
if after Closing there is an adjustment or reassessment by any governmental
authority with respect to, or affecting, any ad valorem taxes for the Property
for the year of Closing or any prior year, Seller shall pay for any such
additional tax payment. The foregoing provisions shall expressly survive the
Closing.

          (c) Utility Charges. Except for utilities which are the responsibility
              ---------------
of Tenant, Seller shall pay all utility bills received prior to Closing and
shall be responsible for utilities furnished to the Property prior to Closing.
Purchaser shall be responsible for the payment of all bills for utilities
furnished to the Property subsequent to the Closing. Seller and Purchaser hereby
agree to prorate and pay their respective shares of all utility bills received
subsequent to Closing, which agreement shall survive Closing.

     16.  Purchaser's Default. If Seller has performed all of its obligations
          -------------------
hereunder and Purchaser fails, within the time limits provided herein, to (i)
make any payment; (ii) perform any obligation or covenant; (iii) close this
transaction on or before the Closing Date; or (iv) satisfy any condition of this
Agreement, or if Purchaser otherwise defaults under this Agreement, then Seller
shall, as its sole remedy, have the right to terminate this Agreement and in
such event (a) Seller shall retain the Earnest Money, as liquidated damages and
(b) Purchaser shall promptly return all information delivered to Purchaser by
Seller and any and all other materials prepared by or for Purchaser in
connection with the Land. This remedy is independent of any indemnity
obligations of Purchaser hereunder. It is hereby agreed that Seller's damages
will be difficult to ascertain and that the Earnest Money constitutes a
reasonable liquidation thereof and is intended not as a penalty, but as fully
liquidated damages. Seller agrees that in the event of a default by Purchaser,
it shall not initiate any proceeding to recover damages from Purchaser, but
shall limit its recovery to the retention of the Earnest Money.

              Seller's Initial _____  Purchaser's Initials /s/ DW
                                                           ------

     17.  Seller's Default.  In the event of default by Seller under the terms
          ----------------
of this Agreement, and Purchaser is otherwise, ready willing and able to timely
perform all of its obligations hereunder, at Purchaser's option: (i) if any such
defects or objections consist of taxes, mortgages, deeds of trust, deeds to
secure debt, mechanic's or materialman's liens, or other monetary encumbrances,
Seller authorizes Title Company to withhold from Seller's proceeds at Closing
amounts
                                      18
<PAGE>

sufficient to cure such defects or objections, and upon such cure, Closing shall
proceed in accordance with the terms of this Agreement, or (ii) Purchaser shall
have the right to terminate this Agreement by giving written notice of such
termination to Seller, whereupon Escrow Agent shall promptly refund all Earnest
Money to Purchaser, and Purchaser and Seller shall have no further rights,
obligations, or liabilities hereunder, except for those provisions which
specifically survive termination including any Purchaser indemnity obligations;
(iii) Purchaser may elect to close the transaction notwithstanding such defaults
in which event such defaults (other than those obligations of Seller which are
to be performed after Closing) shall be waived, or (iv) Purchaser may elect to
seek specific performance of this Agreement.

     18.  Condemnation. If, prior to the Closing, all or any part of the
          ------------
Property (which part allows Tenant under the Lease to terminate the Lease or
otherwise reduce the rent payable thereunder) is subjected to a bona fide threat
of condemnation by a body having the power of eminent domain or is taken by
eminent domain or condemnation (or sale in lieu thereof), or if Seller has
received notice that any condemnation action or proceeding with respect to the
Property is contemplated by a body having the power of eminent domain, Seller
shall give Purchaser immediate written notice of such threatened or contemplated
condemnation or of such taking or sale, and Purchaser may by written notice to
Seller given within thirty (30) days of the receipt of such notice from Seller,
elect to cancel this Agreement. If Purchaser chooses to cancel this Agreement in
accordance with this Paragraph 17, then the Earnest Money shall be returned
immediately to Purchaser by Escrow Agent and the rights, duties, obligations,
and liabilities of the parties hereunder shall immediately terminate and be of
no further force and effect. If Purchaser does not elect to cancel this
Agreement in accordance herewith, this Agreement shall remain in full force and
effect and the sale of the Property contemplated by this Agreement, less any
interest taken by eminent domain or condemnation, or sale in lieu thereof, shall
be effected with no further adjustment and without reduction of the Purchase
Price, and at the Closing, Seller shall assign, transfer, and set over to
Purchaser all of the right, title, and interest of Seller in and to any awards
that have been or that may thereafter be made for such taking.

     19.  Damage or Destruction. If any of the Improvements shall be destroyed
          ---------------------
or damaged prior to the Closing, and the estimated cost of repair or replacement
exceeds Two Hundred Fifty Thousand Dollars ($250,000.00) or if the Lease shall
terminate as a result of such damage, Purchaser may, by written notice given to
Seller within twenty (20) days after receipt of written notice from Seller of
such damage or destruction, elect to terminate this Agreement, in which event
the Earnest Money shall immediately be returned by Escrow

                                      19
<PAGE>

Agent to Purchaser and except as expressly provided herein to the contrary, the
rights, duties, obligations, and liabilities of all parties hereunder shall
immediately terminate and be of no further force or effect. If Purchaser does
not elect to terminate this Agreement pursuant to this Paragraph 18, or has no
right to terminate this Agreement (because the damage or destruction does not
exceed $250,000.00 and the Lease remains in full force and effect), and the sale
of the Property is consummated, Purchaser shall be entitled to receive all
insurance proceeds paid or payable to Seller by reason of such destruction or
damage under the insurance required to be maintained by Seller pursuant to
Paragraph 9(d) hereof (less amounts of insurance theretofore received and
applied by Seller to restoration). If the amount of said casualty or rent loss
insurance proceeds is not settled by the date of Closing, Seller shall execute
at Closing all proofs of loss, assignments of claim, and other similar
instruments to ensure that Purchaser shall receive all of Seller's right, title,
and interest in and under said insurance proceeds.

     20.  Intentionally Deleted.
          ---------------------

     21.  Assignment. Purchaser's rights and duties under this Agreement shall
          ----------
not be assignable without the consent of Seller which consent shall not be
unreasonably withheld; provided, however, Purchaser may assign its rights
hereunder to an affiliate of Purchaser; provided, further, that in the event of
any assignment hereunder, Purchaser shall continue to be primarily liable for
the obligations of the "Purchaser" under this Agreement.

     22.  Broker's Commission. Seller has by separate agreement agreed to pay a
          -------------------
brokerage commission to and Capital Development, LLC (the "Broker").  Purchaser
and Seller hereby represent each to the other that they have not discussed this
Agreement or the subject matter hereof with any real estate broker or agent
other than Broker so as to create any legal right in any such broker or agent to
claim a real estate commission with respect to the conveyance of the Property
contemplated by this Agreement. Seller shall and does hereby indemnify and hold
harmless Purchaser from and against any claim, whether or not meritorious, for
any real estate sales commission, finder's fees, or like compensation in
connection with the sale contemplated hereby and arising out of any act or
agreement of Seller, including any claim asserted by Broker and any broker or
agent claiming under Brokers.  Likewise, Purchaser shall and does hereby
indemnify and hold harmless Seller from and against any claim, whether or not
meritorious, for any real estate sales commission, finder's fees, or like
compensation in connection with the sale contemplated hereby and arising out of
any act or agreement of Purchaser, except any such claim asserted by Broker and
any broker or agent claiming under Brokers. This Paragraph 21 shall survive the
Closing or any termination of this Agreement.

                                      20
<PAGE>

     23.  Notices. Wherever any notice or other communication is required
          -------
or permitted hereunder, such notice or other communication shall be in writing
and shall be delivered by overnight courier, by hand, or sent by U.S. registered
or certified mail, return receipt requested, postage prepaid, to the addresses
set out below or at such other addresses as are specified by written notice
delivered in accordance herewith:

PURCHASER:               c/o Wells Capital, Inc.
                         6200 The Corners Parkway, Suite 250
                         Norcross, Georgia 30092
                         Attn: Mr. Michael C. Berndt

with a copy to:          O'Callaghan & Stumm LLP
                         127 Peachtree Street, N. E., Suite 1330
                         Atlanta, Georgia 30303
                         Attn: William L. O'Callaghan, Esq.

SELLER:                  Troy Development #2, LLC
                         c/o Paul Powers
                         3950 Lewiston Street, Suite 100
                         Aurora, Colorado 80011
                         Fax No.: (303) 371-1465

With a copy to:          Campbell Bohn Killin Brittan & Ray, LLC
                         270 St. Paul Street, Suite 200
                         Denver, Colorado  80206
                         Attention: Marguerite L. Sadler, Esq.
                         Fax No: (303) 322-5800

Any notice or other communication mailed as hereinabove provided shall be deemed
effectively given or received on the date of delivery, if delivered by hand or
by overnight courier, or otherwise on the third (3rd) business day following the
postmark date of such notice or other communication.

     24.  Possession. Possession of the Property shall be granted by Seller to
          ----------
Purchaser on the date of Closing, subject only to the Lease and the Permitted
Exceptions.

     25.  Time Periods. If the time period by which any right, option, or
          ------------
election provided under this Agreement must be exercised, or by which any act
required hereunder must be performed, or by which the Closing must be held,
expires on a Saturday, Sunday, or holiday, then such time period shall be
automatically extended through the close of business on the next regularly
scheduled business day.

     27.  Survival of Provisions. All covenants, warranties, and agreements set
          ----------------------
forth in this Agreement shall survive the execution or delivery of any and all
deeds and other documents at any time executed or delivered under, pursuant to,
or by reason of this Agreement, and shall survive the payment of all

                                      21
<PAGE>

monies made under, pursuant to, or by reason of this Agreement for a period of
nine months from Closing, except as otherwise expressly provided herein.

     28.  Severability. This Agreement is intended to be performed in accordance
          ------------
with, and only to the extent permitted by, all applicable laws, ordinances,
rules, and regulations. If any provision of this Agreement, or the application
thereof to any person or circumstance, shall, for any reason and to any extent
be invalid or unenforceable, the remainder of this Agreement and the application
of such provision to other persons or circumstances shall not be affected
thereby but rather shall be enforced to the greatest extent permitted by law.

     29.  Authorization. Purchaser represents to Seller that this Agreement has
          -------------
been duly authorized and executed on behalf of Purchaser and constitutes the
valid and binding agreement of Purchaser, enforceable in accordance with its
terms, and all necessary action on the part of Purchaser to authorize the
transactions herein contemplated has been taken, and no further action is
necessary for such purpose.

     30.  General Provisions. No failure of either party to exercise any power
          ------------------
given hereunder or to insist upon strict compliance with any obligation
specified herein, and no custom or practice at variance with the terms hereof,
shall constitute a waiver of either party's right to demand exact compliance
with the terms hereof. This Agreement contains the entire agreement of the
parties hereto, and no representations, inducements, promises, or agreements,
oral or otherwise, between the parties not embodied herein shall be of any force
or effect. Any amendment to this Agreement shall not be binding upon the parties
hereto unless such amendment is in writing and executed by all parties hereto.
The provisions of this Agreement shall inure to the benefit of and be binding
upon the parties hereto and their respective heirs, legal representatives,
successors, and assigns. Time is of the essence of this Agreement. This
Agreement may be executed in multiple counterparts, each of which shall
constitute an original, but all of which taken together shall constitute one and
the same agreement. The headings inserted at the beginning of each paragraph are
for convenience only, and do not add to or subtract from the meaning of the
contents of each paragraph. This Agreement shall be construed and interpreted
under the laws of the State of Michigan. Except as otherwise provided herein,
all rights, powers, and privileges conferred hereunder upon the parties shall be
cumulative but not restrictive to those given by law. All personal pronouns used
in this Agreement, whether used in the masculine, feminine, or neuter gender
shall include all genders, and all references herein to the singular shall
include the plural and vice versa.

                                      22
<PAGE>

     31.  Effective Date. The "effective date" of this Agreement shall be deemed
          --------------
to be the date this Agreement is fully executed by both Purchaser and Seller and
a fully executed original counterpart of this Agreement has been received by
both Purchaser and Seller.

     32.  Duties as Escrow Agent. In performing its duties hereunder, Escrow
          ----------------------
Agent shall not incur any liability to anyone for any damages, losses or
expenses, except for its gross negligence or willful misconduct, and it shall
accordingly not incur any such liability with respect to any action taken or
omitted in good faith upon advice of its counsel or in reliance upon any
instrument, including any written notice or instruction provided for in this
Agreement, not only as to its due execution and the validity and effectiveness
of its provision, but also as to the truth and accuracy of any information
contained therein that Escrow Agent shall in good faith believe to be genuine,
to have been signed or presented by a proper person and to conform to the
provisions of this Agreement. Seller and Purchaser hereby agree to indemnify and
hold harmless Escrow Agent against any and all losses, claims, damages,
liabilities and expenses, including reasonable costs of investigation and legal
fees and disbursements, that may be imposed upon Escrow Agent or incurred by
Escrow Agent in connection with its acceptance or performance of its duties
hereunder as escrow agent, including without limitation, any litigation arising
out of this Agreement. If any dispute shall arise between Seller and Purchaser
sufficient in the discretion of Escrow Agent to justify its doing so, Escrow
Agent shall be entitled to tender into the registry or custody of the clerk of
the Court for the county in which the Property is located or the clerk for the
United States District Court having jurisdiction over the county in which the
Property is located, any or all money (less any sums required to pay Escrow
Agent's attorneys' fees in filing such action), property or documents in its
hands relating to this Agreement, together with such pleadings as it shall deem
appropriate, and thereupon be discharged from all further duties under this
Agreement. Seller and Purchaser shall bear all costs and expenses of any such
legal proceedings.

     Remainder of this page is intentionally left blank.

                                      23
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed and their respective seals to be affixed hereunto as of the day,
month and year first above written.

          "SELLER":

          TROY DEVELOPMENT #2, LLC,
          a Colorado limited liability company
          By:  Paul Equities, LLC, a Colorado
               Limited liability company

          By:  /s/ [ILLEGIBLE]
               ------------------------------

          Its: Authorized Signatory

          "PURCHASER":

          WELLS OPERATING PARTNERSHIP, L.P.
          a Delaware limited partnership
          By:  Wells Real Estate Investment Trust, Inc.
               a Maryland corporation

               By: /s/ Douglas P. Williams
                   ------------------------------

               Its: Executive Vice President
                    -----------------------------

          "ESCROW AGENT":

          METROPOLITAN TITLE COMPANY

          By:  ___________________________________

          Its: ___________________________________

                                      24
<PAGE>

                             Schedule of Exhibits
                             --------------------

Exhibit "A"    -    Description of Land
Exhibit "B"    -    Contracts
Exhibit "C"    -    Copy of Lease
Exhibit "D"    -    List of Plans and Specifications
Exhibit "E"    -    Form of Tenant Estoppel Certificate
Exhibit "F"    -    Schedule of Insurance Policies
Exhibit "G"    -    Deed Form
Exhibit "H"    -    Bill of Sale Form
Exhibit "I"    -    Blanket Transfer and Assignment Form
Exhibit "J"    -    Assignment and Assumption of Lease Form
Exhibit "K"    -    Form of Architect's Certificate
<PAGE>

                                   EXHIBIT A
                               LEGAL DESCRIPTION

                                                       Commitment No.: CM-348326

Land in the City of Troy, Oakland County, Michigan, described as follows:

Units 3 and 4, NORTHFIELD PARKWAY CONDOMINIUM, according to the Master Deed
recorded in Liber 17223, pages 2 through 24, inclusive, Oakland County Records,
and designated as Oakland County Condominium Subdivision Plan No. 1042,
together with rights in general common elements and limited common elements, as
set forth in the above Master Deed and as described in Act 59 of the Public Acts
of 1978, as amended.

EASEMENT PARCEL:
Easement for access, ingress and egress and utilities as created, limited and
defined in the Declaration of Easements recorded August 4, 1987, in Liber 10041,
page 264, and as amended by the First Amendment to Declaration of Easements
recorded June 15, 1992, in Liber 12684, page 552, Oakland County Records.

Tax Item No.(s): 20-17-203-003, 20-17-203-004
<PAGE>

                                  EXHIBIT "B"
                               LIST OF CONTRACTS

 .  Management Agreement with Signature Associates, dated 12/1/99, terminate on
   30-day notice or immediately on sale.

 .  General Contractor for Core & Shell - JM Olson Corporation, Contract dated
   October 15, 1998

 .  General Contractor for Tenant Finish - JM Olson Corporation, Contract dated
   March 6, 2000
<PAGE>

                                  EXHIBIT "C"
                                LEASE AGREEMENT
<PAGE>

                                  EXHIBIT "D"
                        LIST OF PLANS & SPECIFICATIONS

                              NORTHFIELD CROSSING
                                 DRAWING INDEX

ARCHITECTURAL
Drawing No   Date   Description
----------   ----   -----------
   A1-1     4/9/99  General Project Information
   A1-2     4/9/99  Door Schedule and General Information
   A1-3     4/9/99  Room Finish Schedule & General Information
   A2-1    6/30/99  Site Plan
   A2-1-S  6/30/99  Building Sign
   A2-2     4/9/99  Site Detail and Information
   A2-3     4/9/99  Site Detail and Information
   A2-4     4/9/99  Site Detail and Information
   A3-1     4/9/99  Basement & Ground Level Plans
   A3-2     4/9/99  Second & Third Level Plans
   A3-3     4/9/99  Roof Level and Detail Roof Plans
   A3-4     4/9/99  Detail Core Plans
   A3-5     4/9/99  Detail Core Plans 2nd Level
   A3-6     4/9/99  Detail Core Plans 3rd Level & Penthouse
   A3-7     4/9/99  Detail Plans
   A4-1     4/9/99  Basement & Ground Level Reflected Ceiling Plans
   A4-2     4/9/99  Second and Third Level Reflected Ceiling Plans
   A4-3     4/9/99  Detail Ceiling Plan at Ground Floor
   A4-4     4/9/99  Detail Ceiling Plan at Second Level
   A4-5     4/9/99  Detail Ceiling Plan at Third Floor & Parking Level
   A5-1     4/9/99  Building Elevations
   A5-2     4/9/99  Building Sections
   A5-3     4/9/99  Detail Ramp Sections
   A5-4     4/9/99  Exterior Elevation
   A5-5     4/9/99  Exterior Elevation
   A5-6     4/9/99  Exterior Elevation
   A5-7     4/9/99  Exterior Elevation
   A6-1     4/9/99  Exterior Wall Sections
   A6-2     4/9/99  Detail Sections
   A6-3     4/9/99  Detail Sections
   A6-4     4/9/99  Detail Sections
   A6-5     4/9/99  Detail Sections
   A6-6     4/9/99  Detail Sections
   A6-7     4/9/99  Roof Details and Information
   A7-1     4/9/99  Stair Sections
   A7-2     4/9/99  Stair Details
   A7-3     4/9/99  Elevator Hoistway Section Details
   A7-4     4/9/99  Elevator Cab and Hoistway Details
   A7-5     4/9/99  Interior Details
   A7-6     4/9/99  Interior Details
   A8-1     4/9/99  Interior Elevations
   A8-2     4/9/99  Interior Elevations
   A8-3     4/9/99  Floor Finish Patterns
   A8-4     4/9/99  Interior Details
   A8-5     4/9/99  Interior Details
   A8-6     4/9/99  Interior Signage Information
   A8-7     4/9/99  Interior Signage Information
<PAGE>

                              NORTHFIELD CROSSING
                            DRAWING INDEX - PAGE 2

STRUCTURAL
Drawing No    Date     Description
----------    ----     -----------
   S-1       4/9/99    Foundation Plan and Schedules
   S-2       4/9/99    First and Second Floor Framing Plans
   S-3       4/9/99    Roof and Third Floor Framing Plans
   S-4       4/9/99    Column Schedule, General Notes & Foundation Details
   S-5       4/9/99    Foundation and First Floor Details
   S-6       4/9/99    Framing Details

MECHANICAL
Drawing No    Date     Description
----------    ----     -----------
  FP-1      1/29/99    Basement and Ground Level Plans - Fire Protection
  FP-2      1/29/99    Second and Third Level Plans - Fire Protection
   M-0      2/26/99    Foundation Plan - Plumbing
   M-1       3/3/99    Basement and Ground Level Plans - Plumbing
   M-2      1/29/99    Second and Third Level Plans - Plumbing
   M-3       4/9/99    Basement and Ground Level Plans - HVAC
   M-4      2/26/99    Second and Third Level Plans - HVAC
   M-5      2/26/99    Roof Plan - Mechanical
   M-6      2/26/99    Enlarged Toilet Plans - Plumbing
   M-7      2/26/99    Mechanical Details
   M-8      3/30/99    Mechanical Schedules
   M-9      3/30/99    Mechanical Schedules
  M-10      1/29/99    Sanitary and Vent Risers Diagram
  M-11      1/29/99    Hot and Cold Water Risers Diagram

ELECTRICAL
Drawing No    Date     Description
----------    ----     -----------
  SE-1      6/30/99    Electrical Site Plan
   E-1       4/9/99    Electrical Riser Diagram and Schedules
  E3-1       4/9/99    Basement and Ground Level Electrical Plans
  E3-2       4/9/99    Second and Third Level Electrical Plans
  E3-3       4/9/99    Roof Electrical Plan

CIVIL
Drawing No    Date     Description
----------    ----     -----------
   C-1      8/31/98    Boundary/Topographic Survey/Demolition Plan
   C-2      1/29/99    Paving/Grading Plan
   C-3      6/30/99    Utility Plan
   C-4      1/29/99    Profile Plan
   C-5      1/29/99    Soil Erosion/Drainage Area Plan
   C-6      1/29/99    Project Notes/Details
    CT       1/3/96    Water Main Details (City of Troy)
    CT      4/19/93    Storm Details (City of Troy)
    CT        10/95    Sanitary Details (City of Troy)
    CT        10/95    Sanitary Sewer Details for Truss Pipe (City of Troy)

CONVEYING SYSTEM
Drawing No    Date     Description
----------    ----     -----------
  VT-1     12/22/99    General Elevator Information (Owner Furnished Documents)
  VT-2     12/22/99    Hoistway, Pit Machine Room Plans & Hoistway Section
                       Elev. 1 and 2 (Owner Furnished Documents)
<PAGE>

                              NORTHFIELD CROSSING
                            DRAWING INDEX - PAGE 3

LANDSCAPING
Drawing No     Date      Description
----------     ----      -----------
   L-1        4/9/99     Planting Plan
   L-2       2/22/99     Site Details

IRRIGATION
Drawing No     Date      Description
----------     ----      -----------
   I-1       2/22/99     Irrigation Plan
   I-2       2/22/99     Irrigation Details
<PAGE>

                                  EXHIBIT "E"
                          TENANT ESTOPPEL CERTIFICATE

Wells Operating Partnership, L.P.
6200 The Corners Parkway, Suite 250
Norcross, Georgia  30092

     Re:  Lease Agreement (the "Lease") by and between TROY DEVELOPMENT #2, LLC
          ("Landlord") and DELPHI AUTOMOTIVE SYSTEMS LLC dated March 22,2000

Ladies and Gentlemen:

     The undersigned Tenant understands that Landlord intends to convey certain
real property in Troy, Michigan, known as "Northfield Crossing" and generally
located at the intersection of Long Lake Road and Corporate Drive (the
"Property"), to Wells Operating Partnership, L.P., or assigns ("Purchaser").
Tenant will lease the entire premises within the Property.

     In connection with such conveyance, Tenant hereby acknowledges and agrees
that:

     1.   The documents attached hereto as Exhibit A constitute complete and
accurate copies of all addenda, amendments, modifications, agreements, or other
changes to the Lease, and there are no other amendments or agreements to which
Tenant is a party which are binding upon Landlord and relate to the Property
other than as expressly set forth therein or herein.

     2.   The term of the Lease commenced on May 1, 2000, and will terminate on
April 30, 2007, subject to Tenant's renewal rights set forth in the Option
Agreement attached as Exhibit J to the Lease.

     3.   The Lease is in full force and effect and Tenant has not given
Landlord any notice of termination or default thereunder.

     4.   Except for "punch list" items set forth on Exhibit B hereto ("Punch
list Items"), to the best of Tenant's knowledge, no uncured breaches or defaults
exist under the Lease, no facts or circumstances exist which will constitute a
breach or default under the Lease and no offsets, defenses or claims are
presently available to Landlord or Tenant under the Lease.

     5.   Tenant is in full and complete possession of the premises leased by
Tenant under in the Lease and except for the Punch list Items has accepted the
premises, including the work of Landlord performed therein pursuant to any terms
and provisions of the Lease, and all other improved areas located on the
Property (including, without limitation, parking spaces, access ways, and
landscaping) as being complete, in compliance with the Lease, and satisfactory
for Tenant's purposes.
<PAGE>

     6.   The premises contain 107,152 rentable square feet.

     7.   Beginning May 1, 2000, Tenant will begin paying monthly base rental
under the Lease in the amount of $154,089.94, and increasing thereafter as
provided in the Lease.

     8.   Tenant has not prepaid any rent or other charge under the Lease to
Landlord other than rent for __________, 2000.

     10.  No security deposit has been paid to or is presently held by the
Landlord under the Lease, and Tenant has not rendered to Landlord any other
security or similar deposit with respect to its tenancy under the Lease.

     11.  Tenant covenants and agrees that it has not dealt with any agents or
brokers in such a way as to cause any brokerage commissions to be due and
payable with respect to the Lease.

     12.  Tenant has not assigned all or any part of its interest in and to the
Lease as security or otherwise and has not subleased all or any part of the
premises leased by Tenant under the Lease.

     13.  Upon receipt of written notice from the Landlord that it has
transferred the Property to Purchaser, Tenant shall attorn to and recognize
Purchaser as Landlord under the Lease and the Lease shall remain in full force
and effect. Any notices to Landlord under the Lease shall following conveyance
of the Property to Purchaser be given c/o Wells Capital, Inc., 6200 The Corners
Parkway, Suite 250, Norcross, Georgia 30092, Attention: Property Management.

     14.  There has not been filed by or against Tenant a petition in
bankruptcy, voluntary or otherwise, any assignment for the benefit of creditors,
any petition seeking reorganization or arrangement under the bankruptcy laws of
the United State, or any state thereof, or any other action brought under said
bankruptcy laws with respect to Tenant.

     15.  The insurance coverage which Tenant is required to obtain under the
Lease is in full force and effect and upon receipt of written notice from the
Landlord that it has transferred the Property to Purchaser, Tenant agrees to
cause Purchaser to be named as an additional insured.  Tenant has not given or
received written notice that Tenant's insurance coverage will be canceled or
will not be renewed.

     16.  To Tenant's knowledge, there are no structural or other defects, in
the improvements located on the Property, and the heating, ventilating, air
conditioning, electrical, plumbing, water, elevator(s), roofing, storm drainage
and sanitary sewer systems at or servicing the Land and Improvements are in good
condition and working order.

     17.  Upon Completion of Construction, there will be in effect permanent
certificates of occupancy, licenses, and permits as may be required for the
Property, and the use and occupancy of the
<PAGE>

Property will be in compliance and conformity with the certificates of occupancy
and all licenses and permits, and there will be no notice or request of any
municipal department, insurance company or board of fire underwriters (or
organization exercising functions similar thereto), or mortgagee requesting the
performance of any work or alteration to the Property which has not been
complied with.

     18.  The undersigned is duly authorized to execute and deliver this
certificate for and on behalf of Tenant.

  Tenant hereby acknowledges and agrees that Purchaser, and any lender making
a loan secured by the Property, shall be entitled to rely on the truth and
accuracy of the foregoing certifications made by Tenant.  Tenant further agrees
for a period of thirty (30) days from the date hereof to notify Purchaser in
writing at the address set forth above of any changes in the truth and accuracy
of any of the certifications contained herein promptly upon Tenant learning of
such change.

     Dated this ____ day of ________________, 2000.

                         Very truly yours,

                         TENANT:

                         DELPHI AUTOMOTIVE SYSTEMS LLC

                         By:_________________________________

                         Title:______________________________

<PAGE>

                                  EXHIBIT "F"
                          LIST OF INSURANCE POLICIES
<PAGE>

                                  EXHIBIT "F"
                          LIST OF INSURANCE POLICIES

                                PAULS EQUITIES
                           TROY DEVELOPMENT #2, LLC

                   COMPANY: HARTFORD FIRE INSURANCE COMPANY
                         POLICY NUMBER: 34 UUC RC1436
                        POLICY PERIOD: 6/1/99 - 6/1/00

     LOCATION: LONG LAKE ROAD AND NORTHFIELD PARKWAY, TROY, MI

     COVERAGE:
     PROPERTY (SPECIAL)
     BOILER AND MACHINERY
     LIABILITY

     LIMITS:
     $13,250,000 PROPERTY
     BUSINESS INCOME (TBD)

     LIABILITY:
     $1,000,000 EACH OCCURRENCE
     $  300,000 FIRE DAMAGE
     $   10,000 MEDICAL EXPENSE
     $1,000,000 PERSONAL AND ADVERTISING INJURY
     $2,000,000 GENERAL AGGREGATE
     $2,000,000 PRODUCTS AND COMPLETED OPERATIONS AGGREGATE
<PAGE>

                                  EXHIBIT "G"
                                   FORM DEED
                                   ---------
<PAGE>

                             LIMITED WARRANTY DEED

     KNOW ALL MEN BY THESE PRESENTS: That LONG LAKE/NORTHFIELD, L.L.C., a
Michigan limited liability company, whose address is 850 Stevenson Highway,
Suite 200, Troy, Michigan 48083, conveys and warrants to TROY DEVELOPMENT #2,
L.L.C. a Colorado limited liability company, whose address is 3950 Lewiston
Street, Suite 100, Aurora, Colorado 80011, the following described premises
situated in the City of Troy, County of Oakland and State of Michigan, to-wit:

     Units 3 and 4, NORTHFIELD PARKWAY CONDOMINIUM, according to the Master Deed
     recorded in Liber 17223, Pages 2 through 24, inclusive, Oakland County
     Records, and designated Oakland County Condominium Subdivision Plan No.
     1042, together with rights in general common elements and limited common
     elements, as set forth in the above described Master Deed, and as described
     in Act 59 of the Public Acts of 1978, as amended.

     $1.00 and other good and valuable considerations.

     EASEMENT PARCEL:
     Easement for access, ingress and egress and utilities as created, limited
     and defined in the Declaration of Easements recorded August 4, 1987, in
     Liber 10041, page 264, and as amended by the First Amendment to Declaration
     of Easements recorded June 15, 1992, in Liber 12684, page 552.

     Tax Item No. 20-17-203-003, as to Unit 3
     Tax Item No. 20-17-203-004, as to Unit 4

This property may be located within the vicinity of farmland or a farm
operation. Generally accepted agricultural and management practices which may
generate noise dust, odors, and other associated conditions may be used and are
protected by the Michigan Right to Farm Act.

See Real Estate Transfer Tax Valuation Affidavit for consideration.

Subject to those Permitted Exceptions set forth in Exhibit "A" and the
covenants, terms and provisions of the aforesaid Master Deed and the Exhibits
attached thereto and to easements, restrictions and other limitations of record
and all applicable laws and governmental regulations.

Dated this 20 day of July, 1998.

Witnesses:                               LONG LAKE/NORTHFIELD, L.L.C.
                                         a Michigan limited liability company

/s/ Chris Petersen                       By:  Damone Holdings, Inc.,
--------------------------------
    Chris Petersen                            Managing Member

/s/ David C. Koelsch                     By:  /s/ Michael G. Damone
--------------------------------              -------------------------
    David C. Koelsch                                Michael G. Damone
                                                    Chairman

STATE OF MICHIGAN          )
                           )ss
COUNTY OF OAKLAND          )

<PAGE>

Dykema Gossett pllc    page 2  deed  7/20/98
                   --------------------------------------------
                    Long Lake/Troy Development

          The foregoing instrument was acknowledged before me this 20 day of
                                                                   --
July, 1998, by Michael G. Damone who is the Chairman of Damone Holdings, Inc.,
the Managing Member of Long Lake/Northfield, L.L.C., on behalf of
Long Lake/Northfield, L.L.C.

                              /s/ Constance M. Walby
                              --------------------------
                              Notary Public, __________ County, Michigan
                              My commission expires:  CONSTANCE M. WALBY
                                                    ----------------------------
                                                      Notary Public
                                                       County, ??
                                                     My Commission Expires Nov.
                                                       3, 1999

AFTER RECORDING RETURN TO:

J. Kevin Ray, Esq.
Campbell, Bohn & Leffert
370 17th Street
Denver, Colorado 80202-6644

Drafted By:
/s/ David C. [ILLEGIBLE]
Dykema Gossett
400 Renaissance Center
Detroit, MI 45043

<PAGE>

                                  EXHIBIT "H"
     STATE OF _______________

     COUNTY OF ______________

                                  BILL OF SALE

     KNOW ALL MEN BY THESE PRESENTS, that TROY DEVELOPMENT #2, LLC, a Colorado
limited liability company ("Seller"), for and in consideration of the sum of Ten
and No/100 Dollars ($10.00), lawful money, and other good and valuable
consideration unto it paid by Wells Operating Partnership, L.P., a Delaware
limited partnership ("Purchaser"), the receipt and sufficiency of which are
hereby acknowledged by Seller, has granted, bargained, sold, transferred, set
over and delivered, and by these presents does grant, bargain, sell, transfer,
set over and deliver unto Purchaser, its successors and assigns, all of its
right, title and interest in and to all equipment, fittings, appliances, shades,
wall-to-wall carpet, draperies, screens and screening, art, awning, plants,
shrubbery, landscaping, lawn care and building maintenance equipment, vending
machines and other furnishings or items of personal property owned by Seller and
used or to be used in connection with the ownership and operation of the
premises known as __________________, Troy, Michigan, (all of which are herein
collectively referred to as the "Personal Property").

     EXCEPT AS EXPRESSLY SET FORTH IN THE CONTRACT BETWEEN BUYER AND SELLER IN
CONNECTION WITH THE SALE OF THE PROPERTY, BUYER ACKNOWLEDGES AND AGREES THAT
SELLER HAS NOT MADE, DOES NOT MAKE AND SPECIFICALLY NEGATES AND DISCLAIMS ANY
REPRESENTATIONS, WARRANTEES, PROVISIONS, COVENANTS, AGREEMENTS OR GUARANTIES OF
ANY KIND OR, CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN,
PAST, PRESENT OR FUTURE, OF, AS TO, CONCERNING OR WITH RESPECT TO (A) THE VALUE,
NATURE, QUALITY OR CONDITION OF THE PROPERTY, (B) THE INCOME TO BE DERIVED FROM
THE PROPERTY, (C) THE SUITABILITY OF THE PROPERTY FOR ANY AND ALL ACTIVITIES AND
USES WHICH BUYER MAY CONDUCT THEREON, (D) THE COMPLIANCE OF OR BY THE PROPERTY
OF ITS OPERATION WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY
APPLICABLE GOVERNMENTAL AUTHORITY OR BODY, (E) THE MERCHANTABILITY,
MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE
PROPERTY, (F) THE MANNER OR QUALITY, OR THE CONSTRUCTION OF, MATERIALS, IF ANY,
INCORPORATED INTO THE PROPERTY, (G) THE MANNER, QUALITY, STATE OF REPAIR OR LACK
OF REPAIR OF THE PROPERTY, OR (H) ANY OTHER MATTER WITH RESPECT TO THE PROPERTY.
BUYER FURTHER ACKNOWLEDGES AND AGREES THAT, SUBJECT TO SELLER WARRANTIES AND
REPRESENTATIONS CONTAINED IN THE PURCHASE AND SALE AGREEMENT BETWEEN BUYER AND
SELLER WITH RESPECT TO THE PROPERTY, SALE OF THE PROPERTY AS PROVIDED FOR HEREIN
IS MADE ON AN "AS IS" CONDITION AND BASIS WITH ALL FAULTS.

     TO HAVE AND TO HOLD THE SAME unto the Buyer, its successors and assigns
forever.  And Seller, for itself and its successors and assigns, does hereby
covenant and agree to and with Buyer, its successors and assigns, that Seller is
the lawful owner of said Property and has good right to sell the same as
aforesaid; that the same are free from all encumbrances, except as shown on
Exhibit B
<PAGE>

                                  EXHIBIT "I"

     STATE OF ___________
     COUNTY OF __________

                        BLANKET TRANSFER AND ASSIGNMENT

          THIS BLANKET TRANSFER AND ASSIGNMENT, made and entered into as of the
____ day of ____________, 2000, by and between TROY DEVELOPMENT #2, LLC, a
Colorado limited liability company (hereinafter referred to as "Assignor"), and
Wells Operating Partnership, L.P., a Delaware limited partnership (hereinafter
referred to as "Assignee").

                              W I T N E S S E T H:

          For and in consideration of the sum of Ten and No/100 Dollars
($10.00), the premises, the conveyance by Assignor to Assignee of the improved
real property more particularly described on Exhibit "A" attached hereto and
incorporated herein by this reference (hereinafter referred to as the
"Property"), and the mutual covenants herein contained, the receipt, adequacy
and sufficiency of the foregoing consideration being hereby acknowledged by the
parties hereto, Assignor hereby transfers, grants conveys and assigns to
Assignee, the following, to-wit:

          (a) All of the right, title, interest and benefit of Assignor in, to
and under any and all site plans, construction and development drawings, plans
and specifications, documents, surveys, engineering and soil reports and
studies, marketing studies, licenses, permits, zoning approvals, sewer and water
permits and licenses, building permits, certificates of occupancy, demolition
and excavation permits, curb cut and right-of-way permits, utility permits,
drainage rights, permits and agreements, and similar or equivalent private and
governmental documents of every kind and character whatsoever pertaining or
applicable to or in any way connected with the development, construction,
ownership or operation of the Property, including all buildings and other
improvements thereon or thereunder, and all right, title and interest of
Assignor in and to all fees and deposits heretofore paid by Assignor with
respect thereto;

          (b) All of the right, title and interest of Assignor in and to the
items of intangible personal property, including trademarks or trade names and
other items that are owned by Assignor and, as of the date hereof, are used in
connection with the Property, except for the names "The Pauls Corporation" or
"Troy Development #2" or any derivative thereof; and

          (c) All of the right, title interest and benefit of Assignor in, to,
and under any and all contracts, guaranties, warranties, affidavits, lien
waivers and agreements given heretofore and with respect to the construction or
composition of all improvements located in, on, upon or under and comprising a
part of the Property or with respect to any of the tangible and intangible
property relating thereto.
<PAGE>

     It is specifically agreed that Assignor shall not be responsible for the
discharge and performance of any and all duties and obligations to be performed
and/or discharged by the owner of the Property or the Assignor for the period
from and after the date hereof.  By accepting this Blanket Transfer and
Assignment and by its execution hereof, Assignee hereby assumes and agrees to
perform all of the terms, covenants and conditions of the contracts on the part
of the property owner therein required to be performed, for the period from and
after the date hereof, but not prior thereto.

          All of the covenants, terms and conditions set forth herein shall be
binding upon and shall inure to the benefit of the parties hereto and their
respective heirs, successors and assigns.

          This Blanket Transfer and Assignment shall be governed by, and
construed under, the laws of the State of Michigan. This Blanket Transfer and
Assignment shall inure to the benefit of, and be binding upon, the respective
legal representatives, successors, and assigns of the parties hereto.

          IN WITNESS WHEREOF, Assignor has caused this instrument to be properly
executed and his seal affixed hereto the day, month and year first above
written.

                         TROY DEVELOPMENT #2, LLC
                         a Colorado limited liability company

                         By:__________________________________
                              Its: Authorized Manager
<PAGE>

                                  EXHIBIT "J"

                       ASSIGNMENT AND ASSUMPTION OF LEASE

          THIS ASSIGNMENT, made and entered into this ____ day of____________
,2000, by and between TROY DEVELOPMENT #2, LLC, a Colorao limited liability
company ("Assignor"), and Wells Operating Partnership, L.P., a Delaware limited
partnership ("Assignee").

                              W I T N E S S E T H:

          For and in consideration of the sum of Ten and No/100 Dollars
($10.00), the premises, the conveyance by Assignor to Assignee of all the
improved real property more particularly described on Exhibit "A", attached
hereto and incorporated herein by this reference (hereinafter referred to as the
"Property"), and the mutual covenants herein contained, the receipt and
sufficiency of the foregoing consideration being hereby acknowledged by the
parties hereto, Assignor hereby transfers, grants, conveys and assigns to
Assignee all of Assignor's right, title and interest in and to the Lease
Agreement (the "Lease") between Assignor and DELPHI AUTOMOTIVE SYSTEMS LLC,
dated March 22, 2000.

          Assignor does hereby warrant and represent that Assignor owns the
rights, title and interest of the landlord under the Lease.

          Assignee, by its acceptance hereof, does hereby assume and agree to
perform any and all obligations and duties of Assignor as landlord under the
Lease first arising after the date hereof, except for "Punch List" items which
remain the responsibility of Assignor pursuant to a separate agreement between
the parties.  Assignor hereby indemnifies and agrees to hold Assignee harmless
from and against any claims, defaults or other liabilities (including, without
limitation, court costs and attorneys' fees) under the Lease first arising or
accruing on or before, or any events first occurring at any time on or before,
the date hereof, including "Punch List" items.  Assignee indemnifies and agrees
to hold Assignor harmless from and against any claims, defaults or other
liabilities (including, without limitation, court costs and attorneys' fees)
under the Lease first arising or accruing after, or any events first occurring
after, the date hereof, except for "Punch List" items.

          This Assignment shall inure to the benefit of, and be binding upon,
the respective legal representatives, successors, assigns of the parties hereto.

          This Assignment shall be governed by, and construed under the laws of
the State of Michigan.

          IN WITNESS WHEREOF, the parties hereto have caused this instrument to
be duly executed and their seals to be affixed hereto the day, month and year
first above written.
<PAGE>

               "Assignor":

               TROY DEVELOPMENT #2 LLC, a Colorado
               limited liability company

               By:  __________________________

               Name:  __________________________

               Its:   Authorized Manager

               "Assignee":

               ____________________________________,
               a __________________________________

               By: __________________________________

               Its: __________________________________

<PAGE>

                                  EXHIBIT "K"

                           ARCHITECT'S CERTIFICATION

     THIS ARCHITECT'S CERTIFICATION is made this ____ day of June, 2000, by
_________________________________________________, (hereinafter referred to as
"Architect") to and for the benefit of Wells Operating Partnership, L.P.
("Purchaser"), any lender ("Lender") making a loan secured by the Property (as
hereinafter defined) and the successors and assigns of each.

                             W I T N E S S E T H:
                             - - - - - - - - - -

     WHEREAS, Troy Development # 2, LLC ("Seller") has contracted with Architect
pursuant to that certain Agreement between Owner and Architect dated as of
____________________________ (the "Architect Contract") to provide certain
general architectural services in connection with the improvement of that
certain real property located at 1441 West Long Lake Road, Troy, Michigan
(the "Property"); and

     WHEREAS, Seller has agreed to sell the Property to Purchaser, and as a
condition to the closing of such sale, Purchaser has required that Seller obtain
this Agreement from Architect.

     NOW, THEREFORE, for and in consideration of Ten and No/100 Dollars ($10.00)
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, Architect makes the following certifications and
representations to Purchaser and Lender:

     1.   Architect hereby certifies that the improvements constructed on the
Property have been constructed in accordance with the plans and specifications
and in compliance with all applicable laws, rules and regulations governing the
design, construction and use of a project of such type.

     2.   Architect hereby further certifies that the building constructed on
the Property contains ________________ rentable square feet.

     IN WITNESS WHEREOF, Architect has caused this Agreement to be duly executed
as of the day, month and year first above written.

                                        ARCHITECT:

                                        __________________________________

                                        By:_______________________________

                                        Title:____________________________

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