Madrona portfolio purchased

G REIT Inc. today announced the sale of its four-building office complex -- the Madrona Buildings portfolio -- in Torrance, Calif., for $52.5 million.

The two- and three-story, class A buildings total approximately 211,000 square feet, and were nearly 87 percent leased at the time of sale to NavCom Technology, Kaiser Foundation Health Plan and American Honda Motor Co.

G REIT had paid $45.9 million for the portfolio in March 2004, according to a press statement.

The buyer's identity was not disclosed.

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