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

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.