Thursday, July 24, 2008

Grubb & Ellis Realty Investors Sells Great Oaks Center in Alpharetta, Ga.

SANTA ANA, CA/PRNewswire-FirstCall/ -- Grubb & Ellis Realty Investors, LLC has sold Great Oaks Center (top right photo) in the Atlanta suburb of Alpharetta on behalf of tenant-in-common investors.

Great Oaks Center is a four building, single-story business park that offers approximately 235,000 square feet of rentable space. Built between 2000 and 2002, the property is situated on approximately 22 acres of land.

It offers easy access to State Highway 120 and 400, and has 516 on-site parking spaces for visitors and tenants.

Purchased by Grubb & Ellis Realty Investors in July 2004, Great Oaks Center was sold to KBS Great Oaks LLC.

Stewart Calhoun and David Meline from Cushman & Wakefield of Georgia Inc. represented the seller in the transaction.The disposition marks the 58th securitized 1031 TIC exchange program taken full-cycle by Grubb & Ellis Realty Investors, an unrivaled industry record.

CONTACT: Julia McCartney of Grubb & Ellis Realty Investors, LLC,+1-714-667-8252, ext. 230, julia.mccartney@grubb-ellis.com


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