Griffin Realty Trust Inc.
GRTAA
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- Griffin Realty Trust Inc. (GRTAA) is an internally managed, publicly registered, non-traded real estate investment trust (REIT) that owns and operates a geographically diversified portfolio of high-quality single-tenant net leased properties, consisting primarily of corporate office, industrial, warehouse, and manufacturing facilities. The company offers investors exposure to strategically located, business-essential real estate assets net leased to creditworthy corporate tenants; its portfolio, as of late 2022, included approximately 73 to 79 properties and one land parcel for future development across 24 U.S. states, with a focus on industrial outdoor storage properties featuring low building-to-land ratios to maximize yard space for materials handling, alongside office, research and development, and data center spaces. Founded in 2009 and headquartered in El Segundo, California, Griffin Realty Trust targets institutional-grade, risk-adjusted returns through net lease investing in high-growth markets nationwide. In recent years, the company has undergone significant portfolio optimization and strategic transactions, including the 2021 rebranding from Griffin Capital Essential Asset REIT Inc. to better reflect its scale as one of the largest U.S. net lease REITs focused on office and industrial assets, accompanied by a new logo and website launch. Between 2022 and 2023, Griffin Realty Trust sold majority interests in substantial office portfolios to Workspace Property Trust and partners, totaling over nine million square feet across 59 Class A suburban office buildings in high-growth U.S. markets for approximately $1.3 billion, while retaining minority ownership in certain assets; this included an initial $1.132 billion deal for 53 buildings and a follow-on $170.4 million acquisition of six additional buildings. Previously known as Griffin Capital Essential Asset REIT following mergers, the entity pursued NYSE listing plans in 2021 amid debt reduction efforts but later rebranded to Peakstone Realty Trust (NYSE: PKST) in 2023, marking a major strategic shift toward public trading while maintaining ties to sponsor Griffin Capital. These dispositions reflect a focused evolution toward streamlined operations and enhanced shareholder liquidity in a challenging commercial real estate environment.