Two different stories this week meet together for some good news on the office front.
Griffin Realty Trust sold a majority interest in a 41-property, 53-building office portfolio at a $1.13 billion valuation, according to a company press release. No mention of the buyers or of what exact percentage is being sold.
However, the "portfolio includes properties with shorter weighted average lease terms and higher estimated future capital expenses in relation to the balance of GRT's portfolio." That would leave GRT, in addition to that minority interest, with 57 office buildings, as well as 23 industrial that are primarily net-leased to creditworthy single tenants.
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