Griffin Capital Essential Asset REIT Leases to Fortune 100 Company
The 12-year lease will commence in April 2020 upon renovations to the 270,000SF space.
WASHINGTON, DC – Griffin Capital Essential Asset REIT Inc. has leased 270,000 square feet to a Fortune 100 company. The space is located in the REIT’s 10-story office building, situated at 13820 Sunrise Valley Drive in Herndon, VA. The company will begin its 12-year lease in April 2020.
Griffin Capital Essential Asset REIT has implemented a capital investment into the property for renovations to the building’s common areas and the tenant’s premises. Refurbishments to the property commenced in 2018 upon the previous tenant, Time Warner Cable Southeast LLC, buying out its remaining lease term to consolidate elsewhere. The property was originally purchased as part of a portfolio acquisition in June 2015.
Griffin Capital Essential Asset REIT Inc. is a publicly registered, non-listed REIT that reports its Net Asset Value daily. The REIT holds a portfolio of 101 properties across 25 states totaling 27.2 million rentable square feet representing $4.7 billion.