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Grubb and Ellis

Commercial real estate firm.

Headquarters:
1551 N. Tustin Ave., Suite 300
Santa Ana, CA 92705
Employees: 6,000+
CEO: Scott Peters
Stock Symbol: GBE

Website: http://www.grubb-ellis.com

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Grubb & Ellis Company is a leading commercial real estate services company. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges, public non-traded real estate investment trusts (REITs) and real estate investment funds. As of September 30, 2007, nearly $3 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a portfolio of more than 214 million square feet of real estate.

Grubb and Ellis officially merged with NNN Realty Advisors, Inc. in December 2007.

In fiscal 2007, Grubb reported revenues of $513.2 million and net income of $3.0 million.

History

Since its start in 1958 in San Francisco, Grubb & Ellis established itself as an innovative, growth-oriented company with a penchant for providing clients best-in-class client service. Throughout the 1960s and 1970s the company focused on better serving its clients by adding businesses, such as property and asset management, real estate development and insurance brokerage services, and opening and acquiring offices in select regional markets.

The company's 1981 merger with Jacksonville, Florida.-based GMR Properties, sparked an eastward expansion, and resulted in Grubb & Ellis becoming the first commercial real estate services firm to be publicly traded and listed on the New York Stock Exchange. Throughout the 1980s, Grubb & Ellis grew rapidly and established a nationwide presence through the acquisition of well-established real estate firms in the Pacific Northwest, Northeast, Southeast, Midwest and Texas.

The 1990s marked a period of consolidation and streamlining for Grubb & Ellis as the company divested non-core businesses, including its residential business, and focused on its core Transaction Services and Management Services businesses. As part of this strategy, in 1996 the company acquired sole ownership of Axiom Real Estate Management, Inc., its property and facilities management subsidiary that originated in 1992 as an independently operated joint venture with IBM Corp. Axiom was renamed Grubb & Ellis Management Services, Inc.

Updated February 8, 2008