1031 Exchange Options Client Investors Acquire $53 Million Multi-Tenant Office Portfolio.WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif. -- Cary Losson, Founder and President of 1031 Exchange Options, today announced on behalf of its clients, the successful acquisition of a portfolio of two multi-tenant office properties, located in Georgia and Michigan, for $53.1 million. 1031 Exchange Options, a national real estate investment consultancy, represented individual Tenancy-in-Common (TIC) investors in the property, many who successfully completed 1031 exchanges with the acquisition of their undivided UNDIVIDED. That which is held by the same title by two or more persons, whether their rights are equal, as to value or quantity, or unequal. 2. Tenants in common, joint-tenants, and partners, hold an undivided right in their respective properties, until fractional interest in the properties. The portfolio consists of a 204,500-square-feet Class A multi-tenant office building located in Central Perimeter section of Atlanta, Georgia and two contiguous Class A multi-tenant office buildings totaling 130,000-square-feet in Southfield, Michigan Southfield is a city in Oakland County of the U.S. state of Michigan. It is a suburb of Detroit and is part of the metro Detroit area. As of the 2000 census, the city had a total population of 78,296. Southfield Township is adjacent to the city on the north side. . The properties are collectively approximately 94% occupied. "This is a fantastic opportunity for our client investors," said Christian Mirner, Executive Vice President -- Real Estate for 1031 Exchange Options. "The investment offers built-in diversification of location. Additionally, the two market locations are ideal: Atlanta has led the nation in population and job formation for the past decade, while Southfield is the largest office submarket sub·mar·ket n. A geographic, economic, or specialized subdivision of a market. adj. Being below what is usual in a particular market: submarket wages; submarket interest rates. in metropolitan Detroit, with more than 6000 businesses and over 140 of the Fortune 500 companies. This portfolio structure offers attributes generally only enjoyed by institutional real estate companies and REITs: multiple market acquisitions that diversify their investment and risk." Griffin Capital acquired the properties from an entity of Transwestern Commercial Services on behalf of the co-ownership group of TIC investors. About 1031 Exchange Options 1031 Exchange Options is a national real estate investment consultancy representing clients in investments structured for co-ownership. We advise clients on 1031 exchanges, Tenancy-in-Common (TIC) ownership, triple net leased properties, funds, LLCs, REITs, and other alternative real estate investments. 1031 Exchange Options offers securities through Sigma Financial Corporation, Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . 1031 Exchange Options' national headquarters is located in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . The company services clients nationwide. Additional information is available at www.1031ExchangeOptions.com. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. |
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