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Granite Capital Group Acquires Warner Crossing Industrial Property In Tempe For $34.5M

Property Image
SOLD
$34,500,000

Arizona

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Industrial403,382 SF
Sold 10/17/2023
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Property Image
SOLD

Granite Capital Group Acquires Warner Crossing Industrial Property In Tempe For $34.5M

1120 West Warner Road & 1140 West Warner Road

See Similar Deals
Industrial403,382 SF
Sold 10/17/2023
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:Industrial
Price Per Square Foot:$85
Total Square Footage:403,382 SF
Transaction Type:Sale

Granite Capital Group Inc., a private equity firm based in Santa Barbara, California, has acquired Warner Crossing, a 201,691-square-foot industrial property in Tempe, Arizona, for $34.5 million from the Carlyle Group. The property is located at 1120 - 1140 West Warner Road and is valued at an average price of $171 per square foot.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $34,500,000
  • Address: 1120 - 1140 West Warner Road
  • Market: Tempe, AZ

Bruce Savett of Granite Capital Group Inc. served as the buyer in the transaction, while Harvey Schwartz from the Carlyle Group acted as the seller. The deal was facilitated by Kidder Mathews, who represented both parties in the transaction.

Players

BS
Bruce Savett
2 deals$92.5M volume
BUYER
Carlyle Group
Carlyle Group
SELLER

Details

SOLD
IMAGE: Bruce Savett & Harvey Schwartz DATE: 10/17/2023 ADDRESS: 1120 - 1140 West Warner Road MARKET: Tempe, AZ ASSET TYPE: Industrial BUYER: Bruce Savett - Granite Capital Group Inc SELLER: Harvey Schwartz - Carlyle Group BROKER: Kidder Mathews SALE PRICE: $34,500,000 SF: 201,691 ~ PPSF: $171 NOTE: Granite Capital Group Inc., a private equity firm based in Santa Barbara, California, has acquired Warner Crossing, a 201,691-square-foot industrial property in Tempe, Arizona, for $34.5 million from the Carlyle Group.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

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