Updated Oct 12, 2026
Granite Capital Group Acquires Warner Crossing Industrial Property In Tempe For $34.5M
1120 West Warner Road & 1140 West Warner Road
$34,500,000
$85/SF
Building Size
201,691 SF
Asset Type
Industrial
Closing
Oct 17, 2023
About this deal
AI
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.
On the Map
$34,500,000
$85/SF
Industrial
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Players
Tempe Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93