CRANBERRY, PA- Griffin Capital Corp.’s Net LeaseREIT has purchased a 117,968- square-foot Class A officebuilding fully occupied by Westinghouse Electric Company at itsinternational headquarters campus in Cranberry Township for $32.6million, GlobeSt.com has learned exclusively.

The REIT, which is focused on acquiring business-essentialsingle-tenant, office and industrial properties net-leased tocreditworthy corporate tenants, now owns the building adjacent toWestinghouse headquarters that houses its engineers responsible fornuclear fuel products and services.

Don Pescara, managing director of acquisitionsfor Griffin tells GlobeSt.com the company believes the property 28miles north of downtown Pittsburg is essential to the tenant’sbusiness for several reasons:

• Westinghouse conducted a multi-state search in 2009 and chosethe location for its new state-of-the-art, built-to-suit campus,located adjacent to three contiguous headquarters buildings.
• The property houses engineers responsible for two of theCompany’s important product lines.
• Part of the building’s systems is tied directly to the adjacentheadquarters.

“This acquisition satisfies our key acquisition metrics,” saysPescara. “The tenant made a long term commitment to the property;the property is essential to the ongoing business operations of thetenant; and, the tenant is financially sound and maintains adominant market position in its industry.”