Thursday, April 16, 2009

Grubb & Ellis Awarded 618,000 SF Management Assignment by Tesoro in San Antonio, TX

SAN ANTONIO, TX – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has been awarded a 618,000-square-foot management assignment by Tesoro Corporation, an independent refiner and marketer of petroleum products.

The assignment will be at Tesoro’s new company headquarters on San Antonio’s north side, which the company is expected to occupy in June.

“Grubb & Ellis won this significant management assignment after a competitive bid among multiple contenders,” said Eric Forshee, executive managing director of Grubb & Ellis Management Services.
“Tesoro is a leader in the refining and marketing industry, highlighted by their efficient, state-of-the-art new headquarters. Grubb & Ellis is pleased to partner with Tesoro and to manage this impressive facility.”

Located on 15-acres within the new Ridgewood Park business center, (top right photo) the recently constructed Tesoro campus includes the 618,000-square-foot complex, complemented by a 2,400 car parking garage.

The facility is split between two buildings connected by a main lobby, a 14-story office tower offering approximately 451,000 square feet of space and a six-story office building providing roughly 167,000 square feet of space.

The campus is being constructed to achieve LEED-New Building certification, which indicates the buildings meet the highest green building and performance measures as indicated by the U.S. Green Building Council. Both towers incorporate advanced HVAC design and equipment technologies to minimize utility consumption.

The Grubb & Ellis property management team is led by Forshee and Daryn Mieure, assistant vice president and senior portfolio manager in the firm’s San Antonio office.

The team also includes Kris Weideman, director of operations, and Mark Upton, regional engineering director.

Tesoro Corporation, a Fortune 150 company, is an independent refiner and marketer of petroleum products. Tesoro, through its subsidiaries, operates seven refineries in the Western United States with a combined capacity of approximately 660,000 barrels per day.
Tesoro's retail-marketing system includes over 880 branded retail stations, of which more than 390 are company owned under the Tesoro®, Shell®, Mirastar® and USA Gasoline™ brands.

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

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