Press Release: Granite Properties Acquires 100 Bayview in Newport Beach
Company Expands Southern California Portfolio
Newport Beach, CA – September 17, 2018- Granite Properties, a commercial real estate investment, development and management company, announced today it has closed on the acquisition of 100 Bayview, a 6-story, 346,334 square foot, Class A office building located in Newport Beach, CA. Eastdil Secured represented the seller. With the purchase of 100 Bayview, Granite continues to expand its Southern California portfolio of Class A properties that are positioned for long-term ownership and offer high quality work environments that are rich in amenities and conveniently located.
100 Bayview provides companies an attractive work environment with its on-site amenity base, proximity to the Back Bay and convenient Newport Beach location. The building has undergone a number of recent renovations, and Granite will continue to build on the improvements with activating the lobby and outdoor common spaces, including balconies and private patios to further enhance the experience of current and future customers. As the property manager of 100 Bayview, Granite will offer innovative services that are hospitality driven as well as building-wide, cross-tenant programs to foster a vibrant and productive office community.
“100 Bayview offered a great opportunity to expand Granite’s presence in Southern California. With its prime location in Newport Beach, adjacency to the Back Bay and convenient access to major freeways, it offers an incredible lifestyle environment in one of the most beautiful places in the country. We look forward to offering our current and future customers a vibrant community that enhances productivity and supports them in meeting their business objectives,” said Jason Purvis, Senior Managing Director, Granite Properties.
With visibility from SR-73 and immediate access to Interstate 405 and SR-55, 100 Bayview’s location features a 250-room Marriott hotel with a Starbucks inside, three restaurants, auto detail and car wash, dry cleaners and a salon. A residential community surrounds the building and John Wayne International Airport as well as shops and dining destinations like South Coast Plaza and Fashion Island are in close proximity. Recognizing the link between wellness and productivity, the building also offers an onsite fitness center and is walking distance from the Back Bay Loop Trail for outside walking meetings, leisure or a workout.
Granite owns and manages six Class A office buildings in Southern California totaling more than 1,700,000 square feet. Besides 100 Bayview, Granite also owns and manages Orange City Square in Orange, 2600 Olive in Burbank and 500 and 550 @TheBrand in Glendale.
About Granite Properties
Granite Properties is a privately held commercial real estate investment, development and management company founded in 1991, with offices in Dallas, Houston, Atlanta, Denver and Southern California. It has completed more than $6.8 billion in real estate transactions and more than 26 million square feet of real estate development and acquisitions. Granite focuses its expertise, business approach and financial resources to help their customers, communities and their people flourish through the places it creates. Granite, a NREI Top Office Owner, has been named as one of FORTUNE’s Best Workplaces for six consecutive years.