Grubb & Ellis Announces Recent Transactions

ROSEMONT, IL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced the following transactions.

Sales

African American Christian Foundation purchased 2,862 square feet of office space at 6707 North Ave. in Oak Park from Elecmat Holdings LLC. Brett Ratay and Michael Fortuna of Grubb & Ellis represented the seller in the transaction.

NSB Land LLC purchased 10 acres of land at 7000 Frontage Road in Burr Ridge from Centrum Finance V LLC. Michael Fortuna, Brett Ratay and Jim Cummings of Grubb & Ellis represented the seller in the transaction.

Astute Properties LLC purchased 11,223 square feet of industrial space at 41650 215 Prairie Lake Road in East Dundee from GMR Partnership. Bruce Granger of Grubb & Ellis represented the seller in the transaction.

Big City Properties LLC purchased 30,000 square feet of industrial space at 4340 Carroll Ave. in Chicago from Jeff Ginger. Sebastian Wilk of Grubb & Ellis represented the seller in the transaction.

Leases

RJW Logistics leased 77,000 square feet of warehouse/distribution space at 11240 Katherine’s Crossing in Woodridge from Bristol Group. Brian Carroll of Grubb & Ellis represented the lessee in the transaction.

Board of Trustees for the University of Illinois executed a lease expansion of 6,767 square feet of industrial space at 8205 Cass Ave. in Darien with Grubb & Ellis Realty Investors, LLC. Jason Streepy and Linda Garske of Grubb & Ellis represented the lessor in the transaction.

Nashua Corporation renewed 11,259 square feet of office space at 250 Northwest Highway in Park Ridge from Park Ridge Building LLC. Craig Cassell and Jim Ward of Grubb & Ellis represented the lessee in the transaction.

Zierick Manufacturing Corp. leased 1,504 square feet of office space at 1005 Internationale Parkway in Woodridge from Norco Associates. Michael Fortuna and Brett Ratay of Grubb & Ellis represented the lessor in the transaction.

Gallagher Bassett Services Inc. leased 26,416 square feet of office space at 1901 Meyers Road in Oakbrook Terrace from PanCor Management, Inc. Kevin Moore and Gregory Tait of Grubb & Ellis represented the lessee in the transaction.

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

The Related Group Acquires 50% Stake in Lighthouse Point, Bahamas

Entitlements Near Completion for Groundbreaking Development on 900-Acre Peninsula

MIAMI, FL, (Business Wire))--The Related Group, a privately-held, leading luxury real estate developer, today announced that it has completed a 50% acquisition of a 900-acre peninsula on Eleuthra Island, Bahamas.

The venture, TRG-Meritage Bahamas LLC, acquired the peninsula known as Lighthouse Point, the southernmost tip of Eleuthra Island, considered by many to be the most awe-inspiring, undeveloped vista on the island.

The Related Group partners, Jorge M. Perez (top right photo) and Stephen M. Ross (top left photo) , have years of combined experience investing in substantial development portfolios in the United States and South America, as well as the Bahamas as former stakeholders with Sol Kerzner of Kerzner International, owner of Atlantis, Paradise Island and One & Only Resorts, Bahamas.

Related Group Chairman and CEO Jorge Perez stated, “While real estate values across the Americas have contracted sharply with the global credit crisis, the fact remains that large, undeveloped peninsulas of high quality beach-front land are a very limited natural resource.”

“Our stake in this amazing property is a testimony to our longer-term outlook on land values in the Caribbean,” stated Mr. Perez. “We are finalizing the entitlements with the Government and the Bahamas for a development program that is truly unique in the market and some distance beyond expectations.”

The Related Group is a leader in luxury real estate and the largest multi-family residential developer in the United States.

Through a subsidiary, Related International, the company is developing landmark luxury resort properties that focus on maintaining the natural beauty, culture, and history of special properties.

The company is active in Mexico, Latin America, and the Caribbean.

Founded in 1979, The Related Group, based in Miami, Florida, also offers construction management, property management, asset management, sales and leasing, and loan financing solutions.

Contact: The Related Group, Miami, Leah Weatherspoon, 305-533-0031, leah@relatedgroup.com