May 31, 2016 Comments Off on Granite Completes Nearly $80M Tri-Cities Acquisition Views: 384 California, California News, Los Angeles, West

Granite Completes Nearly $80M Tri-Cities Acquisition

Plano, TX-based Granite Properties acquired 550 North Brand Blvd., a 21-story office tower in Glendale, CA for nearly $80 million from New York-based Clarion Partners. The 304,503-square-foot property boosts Granite’s portfolio in the Tri-Cities market to roughly 875,000 square feet.

Granite acquired 500 North Brand, the building next door, in 2013 for $95 million, and 2600 W. Olive in Burbank in 2014 for $49 million.

Some of the office tower’s largest tenants include the federal government and National TeleConsultants, a technology consultant. Granite’s Tom Miller says a capital improvement program is planned to upgrade lobbies, corridors and exterior spaces.

JLL’s Anneke O. Greco, Patrick Church and Gil Canton represented the seller.

Read More at Los Angeles Business Journal

Connect with Granite Properties’ Tom Miller

Connect with JLL’s Church

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