Friday, January 30, 2009

Grubb & Ellis Receives $6.25M in Non-Refundable Deposits on Proposed Disposition of Danbury Corporate Center

SANTA ANA, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has received non-refundable earnest money deposits totaling $6.25 million from an undisclosed buyer for the Danbury Corporate Center,(top right photo) a class A office complex in Danbury, Conn.

Upon closing, the transaction is expected to result in net cash proceeds of approximately $14 million for Grubb & Ellis.

Contacts:
Damon Elder, 714.975.2659, damon.elder@grubb-ellis.com
Janice McDill, 312.698.6707, janice.mcdill@grubb-ellis.com
Posted by Alex at 8:42 AM
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