BEAVERCREEK, OHIO — Los Angeles, Calif.-based Griffin Capital Corp., along with five single-purpose borrowing entities operated by Griffin Capital Essential Asset REIT, has acquired the Northrop Building in Beavercreek. The 99,246-square-foot property is occupied by Northrop Grumman Systems. The acquisition is part of a five-property office and industrial portfolio totaling 889,805 square feet in Ohio, New Jersey, North Carolina, Texas and Arizona. Kevin MacKenzie, John Chun, Stephen Skok and Tucker Knight of HFF arranged $110.6 million in financing for the portfolio acquisition. The portfolio includes the 210,524-square-foot Verizon Building in Warren, N.J., the 198,898-square-foot UTC Building in Charlotte, the 146,683-square-foot Schlumberger Building in Houston, and the 231,454-square-foot Avnet Building in Chandler, Ariz.
The 99,246-square-foot Northrop Building located in Beavercreek, Ohio, was sold to Griffin Capital and Griffin Capital Essential Asset REIT as part of a five-property portfolio acquisition.
165