Grubb & Ellis Launches Landauer Appraisal & Valuation

SANTA ANA, CA (June 2, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced it is reinvigorating its Landauer brand with the launch of a national appraisal and valuation business that will be run by industry veterans, Douglas Haney, president, and Eduardo Alegre, executive managing director.

The company, Grubb & Ellis Landauer Appraisal & Valuation, is focused on having a presence in every key market by year-end.

“The Landauer brand is highly regarded in the commercial real estate industry so we are incredibly excited to reintroduce it with the launch of our new national appraisal and valuation business,” said Thomas P. D’Arcy, (top right photo)  president and chief executive officer of Grubb & Ellis Company.

 “We are intensely focused on growth. This initiative is a tremendous addition to our platform and one that we believe will add significant earnings and value to Grubb & Ellis.”

Grubb & Ellis acquired Landauer & Associates in 1999 and historically has offered appraisal services in limited markets.

The establishment of Grubb & Ellis Landauer Appraisal & Valuation as a national business is consistent with the company’s strategy of expanding into complementary businesses that are necessary to provide comprehensive commercial real estate solutions to its growing client base.

“We believe that the need for appraisal services will increase significantly, especially as the commercial real estate markets begin to recover,” said Jack Van Berkel, chief operating officer and president, Real Estate Services. “With Doug and Ed at the helm of Grubb & Ellis Landauer there’s no question we’ll rise to an industry leader in a very short time.”

Experienced commercial real estate appraisers are invited to learn more about this unique career opportunity at http://media.monster.com/employerhighlight/grubbellis/index.html.


Contact: Janice McDill, Phone: 312.698.6707, Email: janice.mcdill@grubb-ellis.com

Richard Murdock Joins Grubb & Ellis as Senior Vice President, Investment Services in San Diego Office

SAN DIEGO, CA (June 2, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Richard Murdock, CCIM, SIOR, has joined the company as senior vice president, Investment Services.

Murdock brings the number of professionals who have joined the company’s San Diego office to 16 since its opening in late March.

A 33-year commercial real estate veteran, Murdock will focus on assisting clients with their acquisitions and disposition needs, as well as the sale and leasing of office and industrial properties.

“Richard is well-known throughout the San Diego marketplace,” said Greg Coxon, president, Brokerage Services. “He has a deep understanding of what clients need and is a fantastic addition to Grubb & Ellis.”

Murdock joins Grubb & Ellis from 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. In the two months since its opening, the San Diego office has grown to offer clients office, retail, investment, multi housing and receivership services.

Grubb & Ellis Facilitates Sale of Hilton Checkers Hotel in Downtown Los Angeles  for $46 Million

LOS ANGELES (June 2, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Jordan Richman, senior vice president of the company’s Hotels, Golf & Leisure practice group, represented both parties in the sale of the four-diamond Hilton Checkers Hotel (bottom left photo)  in downtown Los Angeles.

Tarsadia Hotels, operating under Kalpana LLC and 535 Grand Avenue LLC, sold the asset to Chesapeake Lodging Trust, an Annapolis, Md.-based REIT, for $46 million.

“The Hilton Checkers Hotel is the finest boutique hotel in the greater downtown Los Angeles area.

" It is located in the heart of the city’s financial business district and is an excellent acquisition for the newly public Chesapeake Lodging Trust,” said Richman.

“This transaction is a good indication that the region’s hotel market is beginning to turn after the economic downturn, which is a welcome reprieve.”

Richman facilitated the sale in conjunction with Felix Cacciato of Hotel Equity Advisers.

Located at 535 S. Grand Ave., the 12-story, 188-room hotel was built in the 1920s and underwent significant renovations in 2008.

The property includes an award-winning restaurant, spa and lounge, as well as five indoor and one outdoor meeting areas.

Hilton Checkers Hotel is within close proximity to the Staples Center, Los Angeles Convention Center, Nokia Theater L.A. Live, Disney Concert Hall, The Music Center and Cathedral of Our Lady of the Angels.

The hotel, which is the only four-diamond boutique hotel in down town Los Angeles, will remain a Hilton.

This is the second time Richman has sold the Hilton Checkers; he also facilitated the sale of the hotel when Tarsadia acquired the asset in 1999.

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