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08.23.04 - Granite Properties Acquires One Westchase Center
"This acquisition brings to 1,288,695 total square feet of office space owned and managed by Granite Properties in the fastest growing region of Greater Houston. We believe the Westchase area reflects a New Houston; one that is accessible, vibrant and offers a wide range of business and personal amenities," according to Scott Martin, managing director in Houston for Granite Properties.
"Regarding One Westchase Center, we will retain the name, as it describes one of the finest office buildings in the area. In addition, we plan to continue the Granite tradition of upgrading and enhancing our new acquisitions," Martin added.
Long considered one of the premier office buildings in the area, One Westchase Center is sheathed in light blue reflective glass and offers a full-height atrium lobby that is covered by a skylight. Upon entering the building, visitors are greeted with a landscaped podium and substantial tropical vegetation that surrounds a waterfall and reflecting pool. A series of cantilevered balconies overlook the lobby.
In addition, the building provides tenants with card key access for off-hours entry and on-site security seven days a week. Exercise facilities, a diverse selection of restaurants and retail shopping are within walking distance of the building.
Granite Properties is a diversified real estate investment and management company that is aggressively deploying its capital and adding real estate to its portfolio of office, industrial, land and retail holdings. Over the last five years, Granite has invested an average $75 million per year. In Houston alone, that figure reached $50 million last year. For 2004, the company expects to acquire and develop sites in the greater Houston area worth $100 million. Granite Properties is unique among developers. Because it works on an all cash basis, it can move quickly to fund deals.
For more information about Granite Properties, please visit the company's web site: www.graniteprop.com/home. For marketing or lease information, contact Steve West or Bubba Harkins, leasing agents for this project at Granite Properties, 713-781-8000.
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