Granada Tower fully leased after Peritus deal

By Staff Report. Pacific Coast Business Times.

Santa Barbara-based Peritus Asset Management recently signed a long-term lease for the entire fourth floor of the Granada Tower, making the building fully occupied.

Liam Murphy of Hayes Commerical Group brokered the deal for the financial firm, which is taking more than 3,500 square feet.

“Peritus considered several Class A office spaces in downtown Santa Barbara, but in the end the Granada Tower was the best fit in terms of quality, functionality and image for this growing company,” Murphy said in a release.

Peritus is an employee-owned investment adviser. It comes to the Granada Tower after another wealth management firm, Raymond James, signed a deal to take over the entire fifth floor six months earlier.

The Granada building is Santa Barbara’s tallest at eight stories and dates back to 1924.

“It’s no surprise to see financial services firms choosing the Granada Tower,” Michael Martz, a broker with Hayes who represented property owner 1216 State Street LLC in the deal, said in a release. “The views are amazing, as you would expect, but in addition the landlord has invested in retrofitting and improvements to the floor plans and amenities to create one of the nicest Class A office buildings in downtown Santa Barbara.”

Peritus is moving from 26 W. Anapamu St., where the company had been operating for the last ten years.