GRIFFIN CAPITAL BUYS HOUSTON OFFICE BUILDING FOR $48.7M

HOUSTON — Griffin Capital Essential Asset REIT Inc. has purchased a 149,700-square-foot, Class A office building in Houston's Energy Corridor for $48.7 million. The property is fully leased, with 97 percent of the building leased to Schlumberger Technology Corp., a subsidiary of Schlumberger Limited. The office building serves as Schlumberger Limited's base for its Financial Hub operations.