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Griffin Capital Acquires Part of Office Campus in Indiana

May 24, 2017

Griffin Capital Acquires Part of Office Campus in Indiana

May 19, 2017 | by Roxana Baiceanu | Commercial Property Executive

The transaction price for the 133,400-square-foot, Class A office building was $29 million. The facility is one of three properties making up Midcontinent Independent System Operator Inc.’s headquarters and is fully leased for the next 11 years.

Griffin Capital Co., on behalf of Griffin Capital Essential Asset REIT II Inc., announced the acquisition of a three-story, 133,400-square-foot facility in Carmel, Ind., for $29 million. The seller was Inland Private Capital Corp., represented by Jerrod Wigal, director of Cushman & Wakefield’s Chicago branch.

The building was completed in 2008 as one of the three facilities serving as Midcontinent Independent System Operator Inc.’s (MISO) headquarters and is under an absolute-lease contract for the next 11 years.  The Class A property features an 80-seat cafeteria, a fitness center and group fitness room, men’s and women’s locker rooms, an employee training room and a nine-room conference center for stakeholder meetings.

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