Monday, January 12, 2009

Grubb & Ellis Represents Morgan Stanley in Lease Renewal at Drake Oakbrook Plaza in Illinois


CHICAGO, IL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, represented Morgan Stanley in the lease of 24,014 square feet at Drake Oakbrook Plaza, (top left photo) 2211 York Road in Oakbrook. Louis Hall, senior vice president, facilitated the transaction.

The transaction represents a long-term renewal of Morgan Stanley’s lease. The global financial services provider has been a tenant at Drake Oakbrook Plaza since 1988.

Contact: Erin Mays Phone: 312.698.6735 Email: erin.mays@grubb-ellis.com

Grubb & Ellis Awarded Property Management of Red Mountain Retail Group's 4.8 Million-SF Portfolio

SANTA ANA, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Red Mountain Retail Group Inc., one of the most active developers and redevelopers of retail real estate throughout the Southwest, has selected the company to provide comprehensive property management and accounting services for its 4.8-million-square-foot portfolio.

“Grubb & Ellis is very pleased to have been selected as Red Mountain Retail Group’s property management partner,” said Dylan Taylor, president of Global Client Services. “This is a significant assignment, and we look forward to working with Red Mountain to offer their tenants the best retail environment in the industry.”

Founded in 1999, Red Mountain is headquartered in Santa Ana. The company’s portfolio is comprised of an assortment of big box and neighborhood retail centers as well as mixed-use assets, which are primarily located in California and Arizona. The portfolio also includes 11 properties spread across Utah, Montana, New Mexico, Tennessee, Kansas and Wisconsin.

The Grubb & Ellis property management team for the Red Mountain Retail Group portfolio is led by Hans Mumper, (middle right photo) senior vice president and director of management services, based in the company’s downtown Los Angeles office.

Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com

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