Monday, May 24, 2010

Grubb & Ellis’ Phoenix Office Recruits Office/Industrial Team

Bo Sederstrom, Delia Stirling and Tricia Gumulka are first to join company’s newest office

PHOENIX (May 24, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced its Phoenix office, which opened for business in May, has recruited its first team of Office/Industrial professionals Robert “Bo” Sederstrom (middle right photo), Delia Stirling, (top left photo) CCIM, and Tricia Gumulka (top right photo)  join the company from Landmark TCN, and will specialize in landlord and tenant representation in the lease and sale of office and industrial properties in the Southeast Valley.

“Bo and his team are well-established in the Phoenix market and join Grubb & Ellis with a long list of prestigious clients,” said Pete Bolton (middle left photo) , executive vice president and managing director of the company’s Phoenix office.

 “They characterize the type of quality professionals we are looking to attract as we build the best full service commercial real estate operation in the Valley.”

Sederstrom, who has 23 years of experience in the Phoenix commercial real estate market, joins Grubb & Ellis as vice president. He spent 10 years at Landmark TCN, during which time he was recognized as the company’s broker of the year four times.

Earlier he spent five years with Ross Brown Partners. He began his career in commercial real estate in 1987 with Allen Tenant Services. Sederstrom holds a bachelor’s degree from Northern Arizona University and an M.B.A. from Arizona State University.

He is a member of the Greater Phoenix Chamber of Commerce, serving on the Economic Development Committee and the Governmental Affairs Committee.

Stirling joined Landmark TCN in 2005, having begun her commercial real estate career in 2002 at Cavan Commercial, where she specialized in office condominium sales and development. She holds a bachelor’s degree from Cornell University and is a member of NAIOP, the Urban Land Institute and the Alumni Association of Cornell University

Gumulka has four years of commercial real estate experience, having joined Landmark TCN in 2006, where she specialized in office and industrial sales and leasing. She holds a bachelor’s degree from Arizona State University and is a member of NAIOP and the Urban Land Institute.

Paul O’Boyle Joins Grubb & Ellis as Senior Vice President, Investment Group

SAN DIEGO (May 24, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Paul O’Boyle (middle left photo)  has joined the company as senior vice president, Investment Group.

In this role, the veteran real estate professional will focus on investment sales and court-appointed receivership assignments.

“Paul is a very talented professional who brings 20 years of experience in many aspects of commercial real estate and I am confident clients will benefit from the service he provides as well as Grubb & Ellis’ comprehensive and integrated service platform,” said Greg Coxon, president, Brokerage Services.

O’Boyle joins Grubb & Ellis from San Diego-based Commercial Realty Advisers Inc. In March, Grubb & Ellis acquired the principals of CRA to serve as the foundation from which to build an owned brokerage office.


Hotel Veteran Curtis R. Davies Returns to Grubb & Ellis as Senior Vice President, Hotels, Golf & Leisure

SAN FRANCISCO (May 24, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Curtis R. Davies (bottom left photo) has returned to the company as senior vice president, Hotels, Golf & Leisure practice group.

“Curtis will serve an integral role as we continue to expand the capabilities of the San Francisco office. I couldn’t be more thrilled that he has chosen to return to Grubb & Ellis,” said Mark Geisreiter, executive vice president, managing director, Bay Area.

Davies began his commercial real estate career with Grubb & Ellis in 1985 and spent 15 years at the company. While with the company, he served as a co-founding member of the Hotel and Leisure Advisory Group.

Mark R. Hush Joins Grubb & Ellis as Vice President, Industrial Group

SANTA ANA, CA (May 24, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Mark R. Hush (lower right photo)  has joined the company as vice president, Industrial Group.

“Mark is a very talented individual who joins the company with a wealth of client relationships,” said David Squire, SIOR, executive vice president, managing director of the company’s Portland office. “Through his diverse experience as a broker and appraiser, he has developed an in-depth knowledge of many facets of the commercial real estate industry and I am pleased to welcome him to the team.”

Hush, a 19-year veteran of the industry, joins Grubb & Ellis from Capacity Commercial Group LLC, where he served six years as a senior associate broker. In this position, he represented clients in negotiating lease and sale contracts primarily in the warehousing, manufacturing and technology sectors.

Grubb & Ellis Company Selected by Hertz Investment Group to Market for Sale The Poydras Center in New Orleans

LOS ANGELES, CA (May 24, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Hertz Investment Group has selected its Institutional Capital Markets Group to market for sale The Poydras Center (lower left photo) , a 453,255-square-foot Class A office building located in the central business district of New Orleans.

Richard Plummer and Michael Ross, executive vice presidents, and Andrew Harper, vice president, will represent Hertz in conjunction with Bryan Burns III of Transwestern’s New Orleans office.

“We are elated to have been chosen to market such a top-tier asset. The Poydras Center is well-located and provides investors the opportunity of entry into a thriving office market with a low unemployment rate amidst an economic downturn,” said Plummer.

Located at 650 Poydras St., the 27-story office tower is within a few blocks of the world-renowned French Quarter and adjacent to the Hale Boggs Federal Building, the local U.S. Courthouse.

The building is situated on a nine-story parking garage, providing unobstructed views of the city from the lowest leasable office suites. Developed in 1983 by MetLife, the property is 89 percent leased primarily to law firms and the local U.S. Attorney’s office, which recently signed a 15-year lease to occupy 15 percent of the building.

According to the U.S. Bureau of Labor Statistics, as of March 2010, the New Orleans-Metairie-Kenner, La. region was one of the metro areas with the lowest jobless rates in the country, posting an unemployment rate of 6 percent.

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com

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