Granite Peak Partners, a Southern California real estate investment firm, recently acquired Victoria Business Park in Long Beach, Calif.

The value of the transaction was approximately $12.5 million.

Located in the South Bay portion of Los Angeles, the two-building, multitenant office/industrial complex consists of 119,576 net rentable square feet located on 6.3 acres.

“The South Bay has historically enjoyed low vacancy rates currently between 3 and 5 percent, and vacancies seem to be declining. The area is a great-performing market,” said Bruce Savett, a founding principal of Granite Peak Partners in charge of acquisitions. “While the property has great curb appeal and is adaptable to a broad range of users, its trump card is its location. The buildings are near five major freeways, close to Los Angeles International Airport and situated near the Alameda Corridor, well positioned to benefit from the business created by the significant trade of goods through the twin ports of Long Beach and Los Angeles.”

Savett sees the supply for new industrial property in Los Angeles as constrained. “There is very little appropriately zoned land available for further development,” he said.

Predictably, rental rates for existing buildings have begun to move up,” explains Savett. “There is substantial reason to believe that this trend will continue and perhaps accelerate. We are confident that Victoria Business Park will provide our investors with attractive income and capital growth in the coming years.”


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription