Grubb & Ellis Represents Chinatrust Bank USA in Sale of The Flat

LOS ANGELES, CA (Oct. 12, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that its Financial Services Asset Management Group represented Chinatrust Bank USA in the sale of The Flat, (top right photo) a 206-unit REO apartment conversion that the bank took ownership of in September.

The property was sold to SA Properties Holding LLC in an all-cash transaction. Financial consideration was not disclosed.

The Flat is located at 750 S. Garland Ave., and was 93 percent occupied at the time of the sale. Although the sale price was not disclosed, the property was listed at $27 million, making it one of the city’s largest real-estate-owned investment sales transactions in 2009.

Senior Vice Presidents Phillip Sample and Chris Cooney were the lead brokers. Chris Caras, senior vice president, Sandi Mann, senior associate, Mike Shustak, senior vice president, and Ed Rosenthal, vice president, assisted Sample and Cooney in the representation of Chinatrust Bank..

“Navigating the foreclosure, bankruptcy and subsequent sale of the asset was extremely complicated,” said Sample.

“Adding to the complexities of the transactions was our client’s goal to close the transaction prior to the end of the third quarter. Certainly, having a buyer with the ability to quickly close all-cash on this complex asset was key to our success.”

Sonya Moreno, managing partner of SA Properties Holdings, represented SA Properties Holding LLC in the transaction.

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

Richard Plummer Joins Grubb & Ellis as Senior Vice President, Institutional Capital Markets

LOS ANGELES, CA (Mar. 9, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Richard Plummer, (top right photo) one of Southern California’s top investment sales professionals, has joined its downtown Los Angeles office as senior vice president.

Plummer will be part of Grubb & Ellis’ Institutional Capital Markets Group, which provides real estate investment and advisory services to the company’s most sophisticated clients.

“Richard is an exceptionally talented and successful broker and is an excellent fit for us culturally,” said Glen Esnard, president of Grubb & Ellis Capital Market Group.

“He shares our commitment to client service and his expertise further strengthens our Institutional Capital Markets platform, which we have structured to best address the issues our clients are facing today.”

Plummer, a 31-year veteran of commercial real estate, joins Grubb & Ellis from Cushman & Wakefield, where for 21 years he was a member of the Capital Markets Group.

He has successfully completed more than 100 transactions valued in excess of $5 billion, primarily representing institutional sellers in the sale of trophy office buildings.

Major transactions in the Downtown LA market include the disposition of 333 S. Hope St. (1.4 million square feet), 444 S. Flower St (891,000 square feet), (bottom left photo) 725 Figueroa (895,000 square feet, 6300 Wilshire Blvd. (401,000 square feet) (middle right photo) and 1000 Wilshire Blvd. (471,692 square feet). (top left photo)

Chuck Hunt, executive vice president and regional managing director of Grubb & Ellis’ Los Angeles operations, said, “Richard is one of the best known players in the institutional investment arena. He is an invaluable addition to our team. ”

Plummer was a consistent top performer while at Cushman & Wakefield, earning the C&W Investment Sales Service Excellence Award for Southern California, the C&W National Deal of the Year Award and was a regular member of C&W Chairman’s Circle.

“Grubb & Ellis is an established name with a strong national presence. At the same time, it is a new company – with a senior management team that has a specific game plan to grow the company,” said Plummer.

“Grubb & Ellis has shown the ability to recruit and retain top professionals, despite the challenges of the current market.”

Plummer earned a bachelor’s degree from the University of Wisconsin and is a member of the Urban Land Institute’s Transit-Oriented Development Council.

Contacts:

Sharon Abar, 714.975.2185, sharon.abar@grubb-ellis.com

Damon Elder 714.975.2659, damon.elder@grubb-ellis.com

Craig Cahow Joins Grubb & Ellis as Senior Vice President with Office Group

LOS ANGELES, CA) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announces that Craig Cahow, (top right photo) a 30-year veteran of commercial real estate in the Los Angeles area with more than $1 billion in completed transactions, has joined its West Los Angeles office as a senior vice president, Office Group. His focus will be office landlord and tenant representation.

“We are pleased to have a professional with Craig’s impressive track record as part of our Los Angeles Metro office leasing team,” said Chuck Hunt, executive managing director of Grubb & Ellis’ Greater Los Angeles offices. “He will play a key role in the growth of our office leasing business.”

Most recently, Cahow served as managing director, leasing, for Cabi Developers, where he was responsible for the company’s Southern California portfolio, consisting of 58 office buildings totaling 4.5 million square feet.

Contacts:

Sharon Abar, 714.975.2185, sharon.abar@grubb-ellis.com

Damon Elder 714.975.2659, damon.elder@grubb-ellis.com

Justin “J” Stanley Joins Grubb & Ellis Company as Senior Vice President, Director of Sales

CHICAGO, IL-- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announces that Justin A. Stanley Jr., known throughout the local market as “J”, has joined the company as senior vice president, director of sales, effective immediately.

The newly created position broadens the Chicago offices’ management team and is designed to support the company’s objectives of continued growth and enhanced client service

Most recently, Stanley, 60, was chief financial officer at Staubach Midwest, LLC, a position he held from 2000 to the company’s merger with Jones Lang LaSalle in August of 2008.

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

Grubb & Ellis Represents Milk Studios in 46,500-SF Lease in Los Angeles

LOS ANGELES, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, represented the Milk Group, a prestigious New York-based photography studio, in a 30-year lease for 46,500 square feet of creative space at 855 N. Cahuenga Blvd.

The industrial/R&D building will house the Milk Group’s new home on the West Coast.

The prestigious address was formerly the original Technicolor Studios,(top right photo) built in 1947 to facilitate neighboring Paramount Studios.

Located in the heart of Hollywood’s classic photo district, the newly acquired space will be the second location of Milk Studios and House Production and Casting. The new location is slated to open in June 2009 following an extensive renovation and rehabbing of the property.

Neil Resnick, (middle left photo) executive vice president, Martin McDermott, (middle right photo) vice president, and Nicole Gregoire, associate, of Grubb & Ellis represented The Milk Group in the transaction, conducting an exhaustive search for the right space that took close to 12 months to complete.

Resnick is well known throughout the Los Angeles commercial real estate market for representing entertainment and creative firms. McDermott is considered one of the foremost authorities on the Hollywood office and creative space market. Robert Waller of CB Richard Ellis represented the lessor, a private family trust.

Building upon the success and growth of the New York-based photography studio, Milk Studios partner and creative director, Mazdack Rassi, and partners Erez Shternlicht and Moishe Mana made the decision to expand into the LA market.

They received the advice and support of Dwayne Gathers, formerly with the Los Angeles County Economic Development Corporation, who advised on government regulatory, community relations and tax issues.

Since its inception in 1998, Milk stands at the forefront of the worlds of photography, fashion and art. The Milk Group of companies includes Milk Studios, Milk Gallery, Formula Studios, Milk Equipment Rental, Milk Digital and House Production & Casting.

The much anticipated launch of Milk Studios and House Production & Casting in Los Angeles will be one of the Milk Group’s largest developments and a boon to the ever-growing photography and fashion community in Los Angeles.

Contacts:

Sharon Abar, 714.975.2185, sharon.abar@grubb-ellis.com

Damon Elder, 714.975.2659, damon.elder@grubb-ellis.com