WASHINGTON, DC—Aswe reported on Tuesday, Griffin Capital Essential AssetREIT and Signature Office REIT aremerging in a $3 billion stock-for-stock transaction. The office andindustrial REIT will have a combined portfolio of 15.6 millionsquare feet across 69 properties in 21 states. The deal is expectedto close in the first half of 2015.
Of the 13 or so assets trading from Signature REIT to GriffinCapital, two are in the Washington DC area. One is SouthLake at Dulles Corner, a 268,200 square foot officelocated at 13820 Sunrise Valley Dr. in Herndon. It last traded in2012 for $91.1 million. The other property is theFranklin Center Building, a 209,769-square footoffice in Columbia, MD, located at 6841 Benjamin Franklin Dr. Itlast traded in 2011 for $65 million.
Other properties in the portfolio are located in Georgia, Texas,Illinois, Florida and Ohio.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
