Wednesday , 28 September 2016
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Wyndham Hotel HQ Building Sold for $81 Million

PARSIPPANY, N.J. — The headquarters building of the Wyndham Worldwide hotel organization has been acquired for $81.4 million.

Griffin Capital Corp., an El Segundo, Calif.-based REIT, bought the 203,506 square-foot, Wyndham Worldwide corporate headquarters facility in Parsippany, New Jersey (“Property”) from an affiliate of Mack-Cali Realty Corp.

Wyndham has been the sole occupant of the building since it was constructed as a build-to-suit in 2013.

A Griffin affiliated REIT, Griffin Capital Essential Asset REIT II, made the purchased. It is a publicly registered non-traded REIT with a portfolio that includes 10 office properties valued at $328 million.

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