January 29, 2016
Griffin Capital Corporation reported it acquired nearly $1.7-billion worth of real estate across 17 states last year. The Los Angeles-based sponsor of several REIT platforms added 27 office assets, 9 industrial assets and one data center property, which expanded its property portfolio to 36.6-million square feet.
During the last three years, Griffin has added 83 properties that were acquired for more than $3.3-billion. The investments reflect a strategy of acquiring long-term leased, business essential facilities critical to the underlying tenants’ business operations.
President and CIO Michael Escalante says his company is seeking to make $1 billion in annual single-tenant office and industrial property acquisitions in the next two years.