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HOUSTON-An $18.5 million investment and subsequent two-year hold of 1200 Enclave paid off handsomely for Piedmont Office Realty Trust as the Atlanta REIT sold the 149,683-square-food, class A office building to Griffin Capital Essential Asset REIT Inc. for $48.75 million. The transaction broke out to approximately  $326 per square foot – well above the $124 per square foot the seller paid to C-III Asset Management during the spring of 2011.

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