
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.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition