Monday, November 24, 2008

Grubb & Ellis Files Investor Presentation

Company Recommends Stockholders Vote FOR Grubb & Ellis’ Experienced Directors and Reject Anthony
Thompson’s Opposition Slate

SANTA ANA, CA-– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has filed an investor presentation with the Securities and Exchange Commission in connection with its 2008 Annual Meeting of Stockholders, which is scheduled for December 3, 2008.

Grubb & Ellis’ Board of Directors recommends that all stockholders vote FOR the company’s three independent and experienced directors – Harold H. Greene, Devin I. Murphy and D. Fleet Wallace – on the WHITE proxy card. (Gary Hunt (top right photo) is a director and current CEO of Grubb & Ellis.)

The presentation is available on the Investor Relations section of the company’s Web site at or at the SEC’s Web site at

The presentation notes that:

Grubb & Ellis’ Board and management team have a sound strategic plan in place and are taking aggressive actions to increase productivity, reduce costs and position the company for profitable and sustainable growth and success;

Grubb & Ellis has the right Board in place – independent, experienced and committed to creating value for ALL stockholders;

Grubb & Ellis’ Board and management believe Anthony Thompson (top left photo) is attempting to take control of Grubb & Ellis and install Stuart Tanz (middle right photo) as CEO with the intention to cause Grubb & Ellis to buy or absorb Thompson’s newly formed company, Thompson National Properties, a direct competitor; and

Electing Anthony Thompson and his nominees would undermine important business inroads the company has made since his departure, and reverse the constructive steps management and the Board have been taking to create value for all stockholders.

Grubb & Ellis stockholders who have any questions or need assistance voting their WHITE proxy card should contact MacKenzie Partners, Inc., Toll-Free at (800) 322-2885.


Janice McDill, Matthew Sherman / Andi Salas,Grubb & Ellis, 312.698.6707
Joele Frank, Wilkinson Brimmer Katcher, 212.355.4449

Laurie Connell / Amy Bilbija, MacKenzie Partners, Inc., 212.378.7071 / 650.798.5206

CREC Announces $5.24M Sale of Miami-Dade Shopping Center

CORAL GABLES, FL – CREC (Continental Real Estate Companies), a leading full-service commercial real estate firm, today announced the $5.25 million sale of Perrine Food Shopping Center, (top right photo) a 42,300-square-foot, shopping center in north Miami-Dade.

“Within 2 months, we were able to identify a qualified buyer, favorable financing and close despite this challenging market.” Said Harry Blyden, CREC senior vice president.

“While Florida’s retail market has slowed, there is still considerable investor interest in well-situated, grocery anchored projects like Perrine Food Shopping Center,” said CREC retail broker and principal, Alan Esquenazi, who with Blyden, represented the seller, Perrine Food Retail Corp, in the transaction.

The buyer, 11800 NW 10th Ave, LLC., paid $124 per square foot for the 2.94-acre property, which is located at the southwest corner of NW 119th Street and 10th Avenue just west of Interstate 95.

The retail center is anchored by Food City Supermarket (bottom left photo), a local independent grocer occupying 22,292 square feet on a long-term lease. “Perrine Food Shopping Center is 100 percent occupied by quality local tenants that serve the surrounding neighborhood,” said Blyden.

With offices in Miami, Orlando and Jacksonville, CREC provides fully integrated real estate services, including management and leasing, workout solutions, , debt/equity financing, brokerage, tenant representation, and construction supervision.

Through an extensive nationwide network in the debt and capital markets, CREC also assists clients and partners with their investment strategies.

Founded in 1989 by Chairman Warren P. Weiser and President Carol G. Brooks, CREC today is one of Florida’s largest commercial firms, managing a portfolio of more than 70 office and retail properties totaling 10 million square feet. For more information, visit

Lightning Bolt & Screw Signs New Lease in Tampa, FL

TAMPA, FL -- The Dikman Company, Inc. announces that Lighting Bolt & Screw Co., Inc., d/b/a Brandon Bolt & Screw has leased 6,000 SF of space located at 2604 Tampa East Boulevard, Tampa, Florida.

Lightning Bolt & Screw, Inc., a minority owned business and a distributor of industrial and construction fasteners opened its doors April 1st 1993 in Valrico, Florida. Lightning Bolt & Screw delivers daily to the tri-county area.

The Dikman Company represented the Lessor.
(Bob Dikman, top right photo), is chairman of The Dikman Co.)

CONTACT: Bob Dikman, ALC, CRB, CCIM, SIOR 813/251-5288

Southern Commercial Completes 2 Leasing Deals on Mercy Drive, Orlando

Frito Lay Signs 57,495-SF LEASE at Center of Commerce

ORLANDO, FL--Principals Tom McFadden, (top right photo) SIOR and William “Bo” Bradford, (bottom left photo) CCIM, SIOR of Southern Commercial Real Estate Advisors completed a 57,495 square foot new lease at 3033 Mercy Drive, Orlando in the Center of Commerce. McFadden and Bradford negotiated the five year new lease, representing the Landlord, RREEF. The tenant, Frito Lay was represented by David Murphy with CBRE.

Wetherill Associates Takes 17,871-SF at 3063 Mercy Drive

ORLANDO, FL-- Principals Tom McFadden, SIOR and William “Bo” Bradford, CCIM, SIOR of Southern Commercial Real Estate Advisors completed a 17,871 square foot new lease at 3063 Mercy Drive, Orlando in the Center of Commerce. McFadden and Bradford negotiated the five year new lease, representing the landlord, RREEF. The tenant, Wetherill Associates, Inc. was represented by Scott Williams with Binswanger.

Loan Origination Requests are Down Slightly in October, Cambridge Realty Capital Reports

CHICAGO, IL--With no end to the credit crisis in sight, loan origination requests processed by Cambridge Realty Capital Companies for the month of October were down slightly from the same month last year and loan dollar volume was off as well.

But year-to-date volume remained ahead of last year’s total for the same 10-month period, as senior housing/healthcare borrowers continued to try finding ways to get things done despite election year distractions, the stock market crash and all the pessimistic news impacting the economy, Cambridge Chairman Jeffrey A. Davis (top right photo) observed.

In October, Cambridge processed 24 origination requests totaling $278.1 million compared with 30 requests totaling $368.4 million for the same month last year. For the year-to-date, origination requests were down from 310 in 2007 to 286 this year.

However, year-to-date dollar volume of $4.3 billion in 2008 was ahead of last year’s total of $3.9 billion through October. Presumably, attempts to fund more expensive new construction activity is pushing this year’s volume totals higher, he speculated.

Davis points out that lenders close a relatively small percentage of the loan origination requests received, but believes it’s useful to track this information as an indication of market directions.

“What the numbers suggest to us is that the industry is dealing with a lot of bad news rather well,“ he said.

CONTACT: Evan Washington. Phone: (312) 521-7603. Fax: (312) 357-1611. E-Mail:

Libby Lauer Joins Marcus & Millichap's Tampa, FL Office

TAMPA, FL-– Libby Lauer (top right photo) has joined Marcus & Millichap’s Tampa office as an investment specialist with the firm’s National Seniors Housing Group, according to Steven M. Ekovich, First Vice President/Regional Manager.

Ms. Lauer will specialize in the brokerage of seniors housing at Marcus & Millichap, focusing on transactions throughout the state of Florida.

She previously served as Director of Sales & Marketing for several top national senior living firms, such as Brookdale Senior Living and American Retirement Corporation and recently earned a Master of Science Degree in Marketing from the University of Tampa.

Ms. Lauer resides in South Tampa with her husband, Roy. In her spare time, Libby and her husband enjoy travel and beach volleyball.
Press Contact: Steven M. Ekovich First Vice President/Regional Manager, Tampa (813) 387-4700

Grubb & Ellis|Commercial Florida Negotiates Purchase of 26,000-SF Industrial facility for $990,000 in St. Petersburg, FL

TAMPA, FL --- Grubb & EllisCommercial Florida, associated with 200 Grubb & Ellis offices worldwide, has negotiated the purchase of a 26,000 square foot facility at 2223 Third Avenue South in St. Petersburg.

Bryan Jerome, (top right photo) vice president in the firm’s Industrial Services Group, negotiated the transaction representing the buyer, St. Petersburg-based Island Nautical Inc., (d/b/a JSI) who paid $990,000 for the property.

The seller was Architectural Windows & Entries of St. Petersburg.


Bryan Jerome 813-830-7527 or Larry Lietzman, 813-639-1111x 400
Independently Owned & Operated Grubb & EllisCommercial Florida

Larry Vershel Communications, 407-644-4142