Acquisitions & Opportunistic Ventures
The Granite principals search for opportunistic ways to create value in commercial real estate ventures. We see barriers as an invitation to creation of value. Over the years, Granite Realty Partners has created significant value for itself and its investors through a variety of entrepreneurial and opportunistic ventures. Granite has acquired land, removed development hurdles and sold it. Granite has purchased buildings and flipped them. We have renovated industrial buildings, purchased raw land and built an office building. We are constantly evaluating new opportunities, from the purchase of non-performing debt, to the acquisition of unsold condominium units.
This property was acquired in June 2013 as a cooperative short sales between the prior owner and its lender. A 23,000 sf industrial building was redeveloped into an athletic center and is fully leased to an athletic and fitness trainer, a baseball academy and a soccer academy
In May 2013, Granite purchased this 5,000 sf former garage and was redeveloped into a creative, modern office space and one luxury apartment.
Granite purchased this building from an old-line bookbindery and leased it back to them for two years. After they moved out, Granite completed remediation and other repairs and leased the building to a high-end auction house which ultimately purchased the building.
This building was purchased and re-sold in an opportunistic acquisition.
In December 2010, Granite purchased the note secured by 50 acres of commercially zoned land in Shorewood, IL, a suburb located apprximatley 50 miles southwest of Chicago. By June 2011, Granite obtained the deed to the property through foreclosure. Granite obtained site plan approval for a revised retail development and signed an Economic Incentive Agreement with the Village of Shorewood that provided funds to pay for road improvements and infrastructure.
On this site, Granite built a new 9,000 sf medical office facility for the Rehabilitation Institute of Chicago.
Granite purchased this former insurance claims facility from State Farm. While designing the site for a 60-unit townhouse project, we were approached by an auto service firm with an offer to purchased the building which was ultimately agreed upon.
This 85,000 sf property was an abandoned lumber yard owned by the bank. Granite successfully negotiated the purchase, designed a residential complex, had the land reappointed, and then sold it to another developer.
This former factory had been purchased by a developer for a condominium and townhouse project. After the project stalled, Granite purchased it and re-sold it sixty days later.