Griffin Capital buys DigitalGlobe's future world headquarters

3 February 2014

Griffin Capital Corp. said it has announced, on behalf of Griffin Capital Essential Asset REIT, Inc., the acquisition of an approximately 430,000 square-foot, four-story office building located in Westminster, Colorado outside of Denver.

The property is fully-leased to the seller, Avaya, Inc. through June 30, 2015. The company reported that DigitalGlobe, Inc. (NYSE: DGI) will take occupancy under a 15-year lease beginning July 1, 2015. The property will serve as DigitalGlobe´s World Headquarters and house corporate functions, and image production and analysis. The REIT acquired the Property for USD92.0m (approximately USD214 per square foot).

Avaya, Inc. was represented by David Tilton, Jason Addlesperger and David Lee of NGKF Capital Markets. Griffin Capital Corp. represented itself.

Griffin Capital Essential Asset REIT, Inc. is a publicly registered non-traded REIT with a portfolio that currently includes 44 office and industrial distribution properties totaling approximately 10.58m rentable square feet and total capitalization of approximately USD1.4bn. Its website is at www.griffincapital.com.

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