Griffin Capital Sheds El Segundo Office Asset

Griffin Capital Essential Asset REIT has sold a class-A, 151,289-square-foot, three-story office building in El Segundo to SteelWave for $63.5 million or $420 per square foot. Griffin had acquired the asset in February 2014 for $52.7 million.

Built in 1999 and situated on 6.45 acres, the office building open floorplates and15-foot ceiling heights, which make it a candidate for creative office redevelopment. 2160 Grand is located adjacent to the Metro Green Line and offers immediate access to the 105 and 405 freeways.

NKF’s co-head of U.S. Capital Markets Kevin Shannon, executive managing directors Ken White and Rob Hannan, and senior managing directors Laura Stumm and Michael Moll represented the seller. NKF executive managing directors Eric Lastition and Geoff Ludwig served as local market experts. The buyer, SteelWave, was self-represented.