Griffin Capital Essential Asset REIT Inc. completed the purchase of LPL Financial Carolinas Corporate Campus in Fort Mill, S.C., for $130 million.
The property consists of two adjacent, six-story, class A office buildings spanning roughly 452,000 square feet of rentable area, as well as a six-level structured parking deck with 1,913 spaces situated on two parcels aggregating 16.3 acres.
The acquisition is a replacement property in the company's recent 1031 like-kind exchange transaction involving DreamWorks Animation's Headquarters and Studio Campus in California.
In addition, the company's board of directors urged its stockholders to reject an unsolicited offer from MacKenzie Capital Management LP and its affiliates to purchase up to 1.0 million shares of the company's common stock at $6.89 apiece.
The company argued, among other things, that MacKenzie's offer price is less than the existing and potential long-term value of the shares.
