Granite Peak Partners Acquires $25.2 Million Industrial Business Park in Carson, Califorinia

Granite Peak Partners, a real estate investment firm based in Santa Barbara and Los Angeles, purchased Centre Pointe industrial business park in Carson, California for $25.2 million.

Santa Barbara, CA (PRWEB) June 16, 2005 -- Granite Peak Partners, a real estate investment firm based in Santa Barbara and Los Angeles, purchased Centre Pointe industrial business park in Carson, California for $25.2 million.

The recently renovated 184,000 square foot property is divided into three buildings on two separate parcels. Centre Pointe is home to a diverse tenant base of well established brands. It is near five major freeways in the South Bay section of Los Angeles County.

"The economic significance of the South Bay, lack of regional new construction and the quality of the tenants made this a very attractive opportunity for us," said Bruce D. Savett, one of the founding principals of Granite Peak Partners in charge of acquisitions. "With increasing demand for multi-tenant industrial space, we believe Centre Pointe is an ideal fit for our long-term investment holding requirements."

"We know certainty-of-execution is critical for brokers so we acted on Centre Pointe quickly," says Pierre Tada, another Granite Peak founding principal. "The deal went non-contingent in a little more than two weeks from signing the LOI, due to a highly streamlined due diligence process at the firm. Because we are a nimble firm, we are able to move fast to complete a transaction once we identify an appropriate acquisition target."

Kevin Shannon and Scott Shumacher of Grubb & Ellis represented the sellers in the transaction.

Granite Peak Partners is a full service real estate investment firm providing structured real estate investments and 1031 exchanges to qualified individual, agricultural and institutional investors. Target properties are in the $4 million to $40 million-price range primarily in the western United States. Current emphasis is being placed on multi-tenant industrial properties. For more information, contact Pierre Tada at 805-892-4900, ext. 203 in Santa Barbara, Greg Yost at 310-821-1600 in Marina del Rey or on the web at www.GranitePeakPartners.com.

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