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.