Mar
23

Owens Corning Building in Concord Sold

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sold stamp blueGriffin Capital Corporation  announced today, on behalf of Griffin Capital Essential Asset REIT II, Inc. (the “REIT”), the closing of the 61,200 SF, Class “A,” single-story, light manufacturing building in Concord, North Carolina, on March 9, 2015.

The Property is leased by Owens Corning Sales, LLC a subsidiary of Owens Corning, Inc. (the “Company”) and serves as one of its key manufacturing operations supporting production of multiple products for its customers worldwide. The Tenant leases 100 percent of the Property and has been in occupancy since 2000. Over this period, the Company has invested significantly in maintaining the facility as a world-class operation. The Company is a leading global producer of residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. The Company has a Standard and Poor’s investment grade credit rating of ‘BBB-’. The lease has 9.8 years remaining with no contraction or cancellation options.

 

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