UNLOCK THE POWER OF THE VAULT

Griffin Acquires Large Shaw Asset, Replaces DreamWorks Disposition

May 8, 2018

Griffin Acquires Large Shaw Asset, Replaces DreamWorks Disposition

May 7, 2018 | Beth Glavosek | Blue Vault

On May 7, Griffin Capital Essential Asset REIT, Inc. announced its acquisition of the Shaw Distribution Center – Northport Building C located in Savannah, Georgia for $56.5 million. The property is leased entirely to Shaw Industries, Inc., the largest flooring company in the United States. Its products include carpet, hardwood, laminate, tile, stone flooring products and synthetic turf for residential and commercial markets worldwide. Completed as a build-to-suit in March 2018, this single-story, 1 million-square-foot, Class A distribution facility, “is strategically located near the Port of Savannah, one of the fastest growing ports and fourth largest in the country. The combined factors of the long lease commitment, solid tenant credit characteristics, and the fact that Savannah is the sole point of entry for the tenant on the East Coast, made this an attractive investment for the REIT and its shareholders,” says Eric Kaplan, Griffin Capital’s Managing Director of Acquisitions.
 
The acquisition was consummated under a Section 1031 Exchange with proceeds related to the REIT’s recent sale of DreamWorks Animation’s Headquarters and Studio Campus for $290 million.

 

Learn more about Griffin Capital Company on the Blue Vault Sponsor Focus page

 

Griffin Capital Essential Asset REIT Acquires McKesson Scottsdale Campus

Griffin-American Healthcare REIT IV, Inc. Acquires Medical Office Building in Wisconsin

Griffin Capital Essential Asset REIT Announces Sale of DreamWorks Animation’s Headquarters and Studio Campus

Print Friendly, PDF & Email
Go Back
John E. Moriarty, ChFC
December 2015
February 3, 2016

I have been in the financial services industry for 20 years and our firm provides an education platform that gets clients to “think differently” about their financial picture.  For many years we have communicated to clients the need to diversify their portfolios using alternative asset classes and more specifically, private non-traded investments.  Due diligence on these types of financial vehicles is essential and when I learned about Blue Vault in 2010, our firm immediately began using their material as a tool to build confidence in the minds of our advisors on which alternatives to recommend to clients.  I am impressed with the way Blue Vault continues to add value to their subscribers and I view their publication as a tremendous resource in today’s complex world.