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Griffin Divests Bank of America-Leased Asset in Simi for $30M

A 206,917-square-foot office building in Simi Valley, 100% net-leased to Bank of America, N.A., traded hands. The seller was a wholly-owned subsidiary of Griffin Capital Essential Asset REIT, Inc., while the buyer was Top Terraces, Inc.

Situated on more than 12.5 acres, the two-story building at 450 America St., features a unique campus-style setting, abundant parking, four lobbies, an on-site café, mission critical cybersecurity and optimal post COVID-19 improvements such as expansive ceilings and operable doors to improve air flow.

Newmark’s Kevin Shannon, Ken White, Rob Hannan, Sean Fulp, Laura Stumm and Ryan Plummer represented the seller. The buyer was represented by Peak Commercial’s David Meir and Jack Minassian.

Shannon says, “The Private Capital Group that we launched three years ago sourced the buyer and is proving its effectiveness time and time again. The collaboration between the institutional and private capital platforms is unique to Newmark and I couldn’t be more proud of the team we have assembled.”

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Inside The Story

Connect With Griffin Capital Essential Asset REIT, Inc.Connect With Newmark’s ShannonConnect With Peak Commercial’s MeirConnect With Top Terraces, Inc.

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition