Grubb & Ellis Selected by Venture West to Market 565-Acre Master-Planned Business Park in Oro Valley, Arizona

TUCSON, AZ (July 27, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Venture West has selected the firm to market sites for sale within Innovation Park (top left photo), a 565-acre master-planned development in Oro Valley.

Bob Davis and Bill DiVito, senior vice presidents; Howard Kong, CCIM, vice president; and Hadley Kirkland, associate; of Grubb & Ellis’ Industrial Group, will represent Venture West on the project.

Located at the northwest corner of Oracle Road and Tangerine Road, Innovation Park is a master-planned business park that can accommodate a multitude of uses.

“Although the park has corporate and medical offices, as well as a retail component, there will be a major push to attract research and development and high tech manufacturing companies in biotech, photonics and other technology-based industries,” Davis said.

The park consists of 372 acres of land zoned for development and 193 acres of natural open space, linear parks and trails that provide scenic background views. It includes a 350,000-square foot R&D building, in which Ventana Medical Systems Inc., a member of the Roche Group, houses 1,200 employees, as well as a 110,000-square-foot R&D building, which Sanofi-Aventis U.S. owns and occupies.

Davis adds, “This is an excellent opportunity for corporate occupiers looking to develop a presence in the Tucson area. The site includes an incomparable corporate environment with a backdrop of the Santa Catalina Mountains, which is one of the many reasons Ventana Medical Systems and Sanofi-Aventis U.S., the third and sixth largest pharmaceutical companies in the world, chose to locate in Innovation Park.”

Innovation Park is adjacent to Oro Valley Hospital (top right photo), a 144-bed medical facility, and across the street from the 5,500-acre Catalina State Park and the Oro Valley Marketplace, (middle left photo)  an approximately 1 million-square-foot retail center.

The property is also within close proximity to upscale housing communities and schools, as well as world class resorts and spas, such as the Ritz Carlton, Dove Mountain and the Miraval Arizona Resort & Spa.

“Davis, DiVito and the remaining members of the team were the logical choice to market the site on our behalf,” said Neil Simon, principal of Venture West. “Their long standing track record in Tucson, including the sale of the two-million square foot University of Arizona Technology Park, coupled with their experience with technology companies, was very much in line with our vision for Innovation Park.”

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