Thursday, June 4, 2009

Grubb & Ellis Completes Disposition of Danbury Corporate Center

SANTA ANA, CA (June 4, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced it has completed the disposition of Danbury Corporate Center, (top left photo) located in Danbury, Conn., to an entity of The Matrix Realty Group Inc. for $72.4 million.


The approximately $12.5 million in net proceeds from the sale will be used to pay down the company’s revolving credit facility.

With the Danbury Corporate Center transaction complete, Grubb & Ellis is actively engaged in seeking the disposition of the four remaining real estate assets currently held on the company’s balance sheet.

Contacts:
Damon Elder, 714.975.2659, damon.elder@grubb-ellis.com
Janice McDill, 312.698.6707, mailto:hjanice.mcdill@grubb-ellis.com
Posted by Alex at 10:14 AM
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