EL , Calif., June 8, 2015 (GLOBE NEWSWIRE) -- griffin iphone cases Capital Business ("Griffin Capital") announced today, for Griffin Capital Essential Asset REIT II, Inc. ("GCEAR II" the particular "REIT"), the closing of a 304, 000 square foot, single-story, Program A, distribution and light assembly center (the "Property") in Columbus, Arkansas. The Property is leased to Yankee Showa, Inc., a wholly-owned branch of SHOWA Corporation, a publicly-traded, Japan-based manufacturer of high-performance have an impact on, motorcycle, and outboard suspension systems. The price of the Property was $17. ii million. The seller was a partnership made up of the Columbus Regional Airport People in authority, Capitol Square, Ltd., and Fight it out Realty Corporation, which was represented by just CBRE.
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The Property has been constructed in 2014 as a build-to-suit for American Showa, Inc., exactly which consolidated its imported components allocation operations from three separate plant within Ohio, and serves as it really is sole distribution facility servicing earlier throughout the United States, Canada and South america.
Commenting on the acquisition, Shawn Carstens, Griffin phone case Capital's Vice President of Transactions, said, "This was an excellent chance of GCEAR II to acquire an institutional-quality, essential asset and we are thrilled to add it to our growing portfolio. micron
Don Pescara, Griffin Capital's Getting rid of Director of Acquisitions, added, "This asset provides increased geographic due to this to the portfolio, and the investment is truly consistent with our strategy of taking stable cash flow from creditworthy renters with long-dated leases. "
Of Griffin Capital Essential Asset REIT II and Griffin Capital Business
Griffin Capital Essential Asset REIT II, Inc. is a publicly subscribed non-traded REIT with a portfolio in which currently includes 7 office ingredients totaling approximately 1 . 3 capacité rentable square feet and total increased of approximately $241 million. The REIT's sponsor is Griffin Capital Business ("Griffin Capital"), a privately-owned obtain and management company headquartered on Los Angeles. Led by senior management with more than two decades of real estate skill collectively encompassing over $20 tera- of transaction value and more truly worth 650 transactions, Griffin Capital the affiliates have acquired or formulated approximately 36 million square feet of a space since 1995. Griffin Financial and its affiliates manage, sponsor and co-sponsor a portfolio consisting of about 21 million square feet of woman, located in 27 states, representing about $3. 5 billion in application value. Additional information about Griffin Financial is available at www.griffincapital.com.
This press release may perhaps perhaps contain certain forward-looking statements from inside the meaning of Section 27A the Securities Act of 1933, the fact that amended, and Section 21E the Securities Exchange Act of 1934, as amended. Such forward-looking scenarios can generally be identified by just our use of forward-looking terminology illustration "may, " "will, " "expect, " "intend, " "anticipate, micron "estimate, " "believe, " "continue, " or other similar in length. Because such statements include concerns, uncertainties and contingencies, actual last may differ materially from the expectations, goals, beliefs, plans or predictions for the future expressed or implied by those forward-looking statements. These risks, concerns and contingencies include, but are probably not limited to: uncertainties relating to changes in proper economic and real estate conditions; concerns relating to the implementation of our investor strategy; uncertainties relating to financing vacancy and capital proceeds; uncertainties to incorporate in the closing of property investments; uncertainties relating to the public offering our common stock; uncertainties related to our timing and availability of distributions; likewise risk factors as outlined in REIT's prospectus, as amended infrequently. This is neither an offer nor a new solicitation to purchase securities.
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