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L.A. Buyer Adds $24M Asset to SF Holdings

REDWOOD CITY, CA-Griffin Capital of Los Angeles expands its growing Bay Area portfolio with a sale-leaseback that is also a tenant-in-common deal.

By Bob Howard | Updated on March 06, 2007

(To read more on the TIC market, click here.)

REDWOOD CITY, CA-Griffin Capital of Los Angeles has added a fourth property to its Bay Area holdings with the $24-million acquisition of the headquarters of DPR Construction. The transaction is a tenant-in-common deal in which Griffin has leased back the building to DPR.

The new Griffin acquisition is a three-story, 53,000-sf building at 1450 Veterans Blvd. Griffin bought the property from DPR’s founding shareholders and leased it back in a long-term triple-net lease.

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