Building Sold for $81 Million: Wyndham Hotel HQ

In Parsippany, N.j., The headquarters building of the Wyndham Worldwide hotel organization has been purchased for $81.4 million.

In 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.