Griffin Capital Sells 151,289 SF Office Building Near Los Angeles for $63.5M

EL SEGUNDO, CALIF. — Griffin Capital Essential Asset REIT has completed the sale of an office building located at 2160 Grand Ave. in El Segundo. SteelWave acquired the asset for $63.5 million, or $420 per square foot.

Griffin Capital acquired the 151,289-square-foot property in February 2014 for $52.7 million. At that time the property was fully leased to a single tenant with a lease expiration of June 30, 2021. As part of the transaction, Griffin delivered the property unencumbered by the lease.

The Shannon Team of Newmark Knight Frank represented the seller in the transaction.