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SYLMAR, CA-GC Net Lease REIT Inc., a non-traded REIT sponsored by El Segundo-based Griffin Capital Corp., has acquired a 35,785-square-foot office building at 12669 Encinitas Blvd. here that is fully leased by ITT Educational Services Inc. GC paid $7.8 million for the property and acquired it at a cap rate of 9.76%, according to public filings by the REIT.

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