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Peritus Asset Management Leases Fourth Floor of Granada Tower

The entire fourth floor of the Granada Tower — a 3,528-square-foot Class A office space at 1216 State St. in Santa Barbara — has been leased by Peritus Asset Management.

The firm is an employee-owned investment advisor headquartered in Santa Barbara with more than $1 billion in assets under management. Liam Murphy of Hayes Commercial Group represented the lessee.

“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.

The lease was signed six months after Raymond James — also a wealth management firm — took over the entire fifth floor. Greg Bartholomew and Michael Martz of Hayes Commercial Group represented the landlord in both recent lease transactions.

The Granada building is Santa Barbara’s tallest at eight stories and dates back to 1924. With the lease by Peritus Asset Management, the tower is fully occupied.

“It’s no surprise to see financial services firms choosing the Granada Tower,” Martz said. “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.”

“The Granada Tower offers modern office amenities in a historic setting, with layouts ideal for professional service firms,” Bartholomew added. “The landlord is very pleased to have a successful and respected firm like Peritus on board with a long-term lease.”

Peritus Asset Management will have a short move from 26 W. Anapamu St, where it has been for 10 years.

Hayes Commercial Group has brokered 38 leases in Santa Barbara totaling 100,000 square feet during the first half of 2014. For more information, click here to contact Martz or Murphy.

— Ted Hoagland is the marketing director for Hayes Commercial Group.

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