2019 Press Releases

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November 25, 2019

Griffin Capital Essential Asset REIT Sells Office Building in El Segundo, CA for $63.5 Million

In response to abundant investor demand for value-add office property investment opportunities, the REIT made a strategic decision to position the property for sale. Recognizing that value-add buyers prefer vacant buildings, the REIT’s team bought out and terminated the sole tenant’s lease and did so on an accretive basis.

November 12, 2019

Griffin Capital Essential Asset REIT Reports 2019 Third Quarter Results

The REIT had an active third quarter successfully executing the following transactions: acquisition of a McKesson Office Campus (“McKesson II”) in Scottsdale, Arizona, sale of properties in Fort Worth, Texas, Lynwood, Washington and Denver, Colorado, and realization of occupancies from new leases totaling 211,048 square feet.

November 05, 2019

Griffin Capital Essential Asset REIT Adds Real Estate Industry Veterans to its Executive Management Line-up

Griffin Capital Essential Asset REIT, Inc. (GCEAR) announced the addition of three highly-regarded industry veterans to its executive management team in support of the company’s strategic expansion. Michael Escalante, Chief Executive Officer, announced the hiring of the following seasoned real estate professionals to diversify its equity base, enhance its industrial market capabilities and expand its in-house legal team.

October 14, 2019

Griffin Capital Essential Asset REIT Sells Industrial Building in West Jefferson, Ohio for $30.3 Million

“We are extremely gratified by how well this transaction aligns with the REIT’s strategic goals and objectives. It exemplifies our team’s ability to execute on our main objective of maximizing investor returns.” - Mr. Escalante

September 30, 2019

Griffin Capital Essential Asset REIT Completes Acquisition of McKesson Corporation’s Scottsdale, Arizona Office Property for $37.7 Million

Griffin Capital Essential Asset REIT, Inc. (the “REIT”) announced the acquisition of McKesson III (the “Property”) at a purchase price of $37.7 million from Ryan Companies US, Inc. (the “Seller”).

September 23, 2019

Griffin Capital Essential Asset REIT Sells Office Building in Denver Tech Center for $48.8 Million

Griffin Capital Essential Asset REIT, Inc. (the “REIT”) announced the sale of a 191,368 square foot, Class “A”, seven-level office building located at 7601 Technology Way, Denver, Colorado (“Property”) for $48.8 million. The Property was originally purchased by the REIT in June 2015 as part of a portfolio acquisition.

September 12, 2019

Griffin Capital Celebrates Robust Growth with Over $1.0 Billion Raised Year-to-Date for Griffin Institutional Access Real Estate Fund

“We always strive to provide investors with alternative investments of the highest caliber. Combining innovative investment structures with best-in-class asset management capabilities is paramount to our success. Our performance speaks for itself. Our ability to deliver on our stated investment objectives within a variety of market conditions over the past five years is a testament to our active management capabilities.”

August 15, 2019

Griffin Capital Essential Asset REIT Reports 2019 Second Quarter Results

“The second quarter of 2019 is our first opportunity to demonstrate the financial benefits the REIT is experiencing as a result of the merger,” said Michael Escalante, Chief Executive Officer, of the REIT. “The REIT is now self-managed, resulting in a significant reduction in general and administrative expenses as it is no longer subject to asset management fees, performance fees, and other costs typically incurred by externally-managed REITs.”

July 24, 2019

Griffin Capital Essential Asset REIT Executes New Lease Transaction with Fortune 100 Company

Michael Escalante, Chief Executive Officer of the REIT stated, “We are pleased to have garnered such overwhelming support from our shareholders for the approval of the completion of the merger of Griffin Capital Essential Asset REIT and Griffin Capital Essential Asset REIT II, which closed subsequent to first quarter on April 30, 2019. As we have recently stated, the transaction significantly increased the size, scale, and diversification of the REIT. Furthermore, the merger brings additional long-term benefits to our shareholders which we expect will become more evident in our financial statements as we progress through 2019 and beyond.”

May 22, 2019

Griffin Capital Essential Asset REIT II Reports First Quarter 2019 Results

Michael Escalante, Chief Executive Officer of the REIT stated, “We are pleased to have garnered such overwhelming support from our shareholders for the approval of the completion of the merger of Griffin Capital Essential Asset REIT and Griffin Capital Essential Asset REIT II, which closed subsequent to first quarter on April 30, 2019. As we have recently stated, the transaction significantly increased the size, scale, and diversification of the REIT. Furthermore, the merger brings additional long-term benefits to our shareholders which we expect will become more evident in our financial statements as we progress through 2019 and beyond.”

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