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<B><FONT SIZE=3><P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>


<P ALIGN="CENTER">WASHINGTON, DC 20549</P>


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<P ALIGN="CENTER">FORM 8-K</P>


<P ALIGN="CENTER"></P>


<P ALIGN="CENTER">CURRENT REPORT</P>


<P ALIGN="CENTER">PURSUANT TO SECTION 13 OR 15(d) OF THE </P>


<P ALIGN="CENTER">SECURITIES EXCHANGE ACT OF 1934</P>


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<P ALIGN="CENTER">&nbsp;</P></B></FONT>


<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=637>


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<FONT SIZE=3><P>Date of Report (Date of earliest event reported)</FONT></TD>


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<U><FONT SIZE=3><P ALIGN="CENTER">April 21, 2006</U></FONT></TD>


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</B><U><P ALIGN="CENTER">Wells Real Estate Fund I</P>


</U><P ALIGN="CENTER">(Exact Name of Registrant as Specified in Charter)</P>


<B><P ALIGN="CENTER"></P>


<P ALIGN="CENTER">&nbsp;</P></B></FONT>


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<U><FONT SIZE=3><P ALIGN="CENTER">Georgia</U></FONT></TD>


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<U><FONT SIZE=3><P ALIGN="CENTER">0-14463</U></FONT></TD>


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<U><FONT SIZE=3><P ALIGN="CENTER">58-1565512</U></FONT></TD>


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<FONT SIZE=3><P ALIGN="CENTER">(State or Other Jurisdiction of Incorporation)</FONT></TD>


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<FONT SIZE=3><P ALIGN="CENTER">(Commission File Number)</FONT></TD>


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<FONT SIZE=3><P ALIGN="CENTER">(IRS Employer Identification No.)</FONT></TD>


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<P ALIGN="CENTER">&nbsp;</P></B></FONT>


<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=637>


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<U><FONT SIZE=3><P ALIGN="CENTER">6200 The Corners Parkway, Norcross, Georgia</U></FONT></TD>


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<U><FONT SIZE=3><P ALIGN="CENTER">30092-3365</U></FONT></TD>


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<FONT SIZE=3><P ALIGN="CENTER">(Address of Principal Executive Offices)&#9;</FONT></TD>


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<FONT SIZE=3><P ALIGN="CENTER">(Zip Code)</FONT></TD>


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<P ALIGN="CENTER">Registrant's telephone number, including area code: <U>(770) 449-7800</P>


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<U><P ALIGN="CENTER">N/A</P>


</U><P ALIGN="CENTER">(Former Name or Former Address, if Changed Since Last Report)</P>


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<P>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</P>


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<P ALIGN="JUSTIFY">[]  &#9;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>


<P ALIGN="JUSTIFY">[]  &#9;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>


<P ALIGN="JUSTIFY">[]  &#9;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR   240.14d-2(b))</P>


<P>[]  &#9;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>





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<B><P>Item 1.01 Entry Into a Material Definitive Agreement</P>


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</FONT><FONT SIZE=3><P ALIGN="JUSTIFY">On March 1, 2006, Fund I and Fund II Tucker (&quot;Fund I-II Tucker Associates&quot;) entered into an agreement to sell a commercial office complex containing approximately 67,000 rentable square feet and located in Tucker, Georgia (&quot;Heritage Place&quot;) to an unaffiliated third party for a gross sales price of $4,215,000, excluding closing costs (the &quot;Agreement&quot;).  Fund I-II Tucker Associates is a joint venture between Wells Real Estate Fund I (the &quot;Registrant&quot;) and Fund II and Fund II-OW (&quot;Fund II-IIOW Associates&quot;).  Fund&nbsp;II-IIOW Associates is a joint venture between Wells Real Estate Fund II and Wells Real Estate Fund II-OW.  As of April 21, 2006, the inspection period has expired and the earnest money deposit of $75,000 has become non-refundable pursuant to the Agreement.  The Registrant expects this transaction to close in the second quarter of 2006; however, there are no assurances regarding when or if this sale will be completed.</P>


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<P ALIGN="JUSTIFY">The Registrant holds an equity interest of approximately 51.9% in Fund I-II Tucker Associates.  Heritage Place is 100% owned by Fund I-II Tucker Associates.  </P>


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<P ALIGN="CENTER">SIGNATURES</P>


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<P ALIGN="JUSTIFY">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.</P>


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<P ALIGN="JUSTIFY">&nbsp;</P>


<P>WELLS REAL ESTATE FUND I</P>


<P>(Registrant)</P>





<P>By:&#9;Wells CAPITAL, INC.</P>


<P>General Partner</P>


<P>By:&#9;<U>/s/ Leo F. Wells, III&#9;&#9;</P><DIR>


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</U><P>Leo F. Wells, III</P></DIR>


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<P>&#9;President</P>


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<P ALIGN="JUSTIFY">Date:  April 25, 2006</P>


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SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
April 21, 2006
Wells Real Estate Fund I
(Exact Name of Registrant as Specified in Charter)
Georgia
0-14463
58-1565512
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
6200 The Corners Parkway, Norcross, Georgia
30092-3365
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(770) 449-7800
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[]  	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[]  	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[]  	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR   240.14d-2(b))
[]  	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry Into a Material Definitive Agreement
On March 1, 2006, Fund I and Fund II Tucker ("Fund I-II Tucker Associates") entered into an agreement to sell a commercial office complex containing approximately 67,000 rentable square feet and located in Tucker, Georgia ("Heritage Place") to an unaffiliated third party for a gross sales price of $4,215,000, excluding closing costs (the "Agreement").  Fund I-II Tucker Associates is a joint venture between Wells Real Estate Fund I (the "Registrant") and Fund II and Fund II-OW ("Fund II-IIOW Associates").  Fund II-IIOW Associates is a joint venture between Wells Real Estate Fund II and Wells Real Estate Fund II-OW.  As of April 21, 2006, the inspection period has expired and the earnest money deposit of $75,000 has become non-refundable pursuant to the Agreement.  The Registrant expects this transaction to close in the second quarter of 2006; however, there are no assurances regarding when or if this sale will be completed.
The Registrant holds an equity interest of approximately 51.9% in Fund I-II Tucker Associates.  Heritage Place is 100% owned by Fund I-II Tucker Associates.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
WELLS REAL ESTATE FUND I
(Registrant)
By:	Wells CAPITAL, INC.
General Partner
By:
/s/ Leo F. Wells, III
Leo F. Wells, III
President
Date:  April 25, 2006