ENCINO, CA, Sept. 15, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has been awarded the highest ranking (number 162) for any real estate firm in InformationWeek’s ranking of the top 500 technology firms.

 This is the fourth consecutive year that the firm has been ranked by InformationWeek, its highest ranking overall, and the highest ranking ever by a commercial real estate firm.

Marcus & Millichap was cited for its overall strength in technology, particularly its tools to serve clients in its commercial real estate brokerage business and the technology platform it deploys to support its sales force of more than 1,300 investment specialists nationally.

 “Marcus & Millichap has long been a pioneer in bringing technology to the brokerage industry to better serve our clients and support our agents,” says Rick Peltz, (top left photo)  senior vice president and chief information officer. “We are honored that InformationWeek recognized our efforts and we commit ourselves to continuing to develop and implement innovative, cost-effective and timely programs.”

Specific programs cited by the magazine in its recognition of Marcus & Millichap include a proprietary, real-time statistical marketing program, the automation of the press release system for its more than 70 regional offices, and  a search engine optimization program that led to a significant gain in web market share for the firm.

Also, new communication technology that integrates various tools into a single point-of-contact system, a rebranding marketing program that led to an increase in market share for Marcus & Millichap’s investment specialists, the implementation of a new mass e-mail system, and an expansion of a successful proprietary document center that gives clients real-time information about marketing efforts and access to the most current transaction information.

Press Contact: Stacey Corso,  (925) 953-1716, stacey.corso@marcusmillichap.com

CBRE Orlando Closes $89M in Apartment Sales

ORLANDO, FL--CB Richard Ellis is pleased to announce that its Multi-Housing Group has closed another apartment sale in Orlando, and has earned 75% market share locally in 2009 thus far.

Including the sale of Promenade Crossing this month, CBRE’s Central Florida Multi-Housing Group has closed nearly $89 million of the approximately $120 million in Orlando apartment transactions so far this year.

Shelton Granade and Luke Wickham exclusively represented the sellers.

Completed in 1997, Promenade Crossing is a 212-unit rental community across from the desirable Baldwin Park area of Orlando. The property was 95% occupied at closing, and CBRE generated substantial interest in the offering.

Multi-housing sales activity has continued to increase throughout the year. The other assets sold in Orlando range from “value add” opportunities built in the 1970s and ‘80s to class “A” projects built within the last ten years.

CBRE has also sold several “fractured” deals – communities that converted and sold units as condominiums and reverted the remaining units back to rentals.

CBRE’s Central Florida Multi-Housing Group has closed more multi-housing properties locally in 2009 than any other company, and continues to be the market leader in Orlando.


For further information, please contact:

Shelton Granade, T 407 839 3103;  F 407 404 5001; shelton.granade@cbre.com

Luke Wickham, T407 839 3130, mailto:Luke.wickham@cbre.com    

Cousins Properties Commences Common Stock Offering

ATLANTA -- Cousins Properties Incorporated (the “Company”) (NYSE: CUZ) announced today that it has commenced a public offering of 32,000,000 shares of common stock.

 The underwriters will be granted a 30-day option to purchase up to 4,800,000 additional shares of common stock to cover overallotments, if any.

BofA Merrill Lynch, Morgan Stanley and J.P. Morgan are the joint book-running managers for the offering.

The Company plans to use the net proceeds from the offering to repay a portion of the outstanding balance under the Company’s unsecured revolving credit facility. Any net proceeds in excess of $248 million will be used to repay additional existing indebtedness under the Company’s revolving credit facility and for general corporate purposes.

Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com

Penzance completes 74,497-SF Lease Renewal with U.S. General Services Administration

WASHINGTON, D.C.-– Penzance  has completed the lease renewal of 74,497 square feet of office space with the U.S. General Services Administration at Parkridge Two, 10803-10805 Parkridge Blvd. in Reston, Virginia. Grubb & Ellis Company, a leading real estate services and investment firm, represented Penzance in the transaction.

Parkridge Two is a two-story, office building located within the Parkridge Center office park,(top left photo)  Reston's largest office park. Parkridge enjoys superior access to the Washington Dulles Toll Road and is the site closest to Tyson's Corner in the Dulles Corridor. The park has dual entrances and features an interior ring road with 2-acre pond, volleyball and croquet courts, a picnic area, outdoor fountains, and a deli. The office buildings in Parkridge range from 2 to 7 stories.

Charles Dilks, Keith Lavey and Kurt Stout of the Grubb & Ellis Government Services Group (www.grubb-ellis.com/government) represented Penzance in this transaction. The Government Services Group provides advisory and transaction services to lessors, investors and government agencies throughout the United States. Combining its specialized knowledge of government procurement process with Grubb & Ellis' broad leasing, sales and market research expertise, the Government Services Group delivers effective solutions to its clients.

Penzance is a private equity real estate investment company that owns, develops and manages commercial properties. Founded in the mid-1990's by principals Victor Tolkan and Julia Springer Tolkan, Penzance focuses on investment grade real estate opportunities in the metropolitan DC area.

Contact: Matt Pacinelli , 202.349.5686 direct , 202.271.0526 mobile , 888.690.1885 fax, mpacinelli@penzco.com

Grubb & Ellis Promotes Lisa Kochan in New Jersey: Hires Charles Davidson in Philadelphia

 Kochan Will Oversee Central and Northern NJ Locations 

FAIRFIELD, NJ– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Lisa Kochan (top right photo) has been promoted to assistant vice president, Grubb & Ellis Management Services Inc., a wholly-owned subsidiary of Grubb & Ellis Company.

In this role, she will oversee the day-to-day operations of the company’s central and northern New Jersey locations, which include offices in Fairfield and Edison.

Kochan joined Grubb & Ellis in 2001 as a property manager responsible for the day-to-day management of properties for TIAA-CREF, MetLife and Guggenheim Real Estate. She was promoted to portfolio manager in 2007, assuming responsibility for overseeing the financial and operational performance of the company’s northern and central New Jersey portfolio totaling approximately 8.5 million square feet.

“Lisa has shown tremendous dedication to our team, our clients and the community at large,” said Eric Stone, executive vice president and managing director of Grubb & Ellis’ Northern and Central New Jersey offices. “The level of support she’s capable of providing to our professionals translates directly into unmatched client service, while her charitable efforts enhance our ability to be the best corporate citizens we can be.”

Charles Davidson is New Senior VP in Downtown Philadelphia Office
PHILADELPHIA (Sept. 14, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Charles Davidson has joined the company’s downtown Philadelphia office as senior vice president, specializing in office tenant representation.

“We are truly excited about the addition of Charlie to our Center City team,” said Bob Clements, executive vice president and market leader for Grubb & Ellis’ Philadelphia tri-state area. “His experience in every facet of commercial real estate will add to an already-strong downtown office.”

Davidson is a 19-year industry veteran with experience in investment management, asset management and office leasing. Since 2007, Davidson was a senior vice president with BPG Properties, Ltd., where he directed redevelopment, leasing and management activities as head of the firm’s Washington D.C. office.

Previously, as director of asset management for BPG, Davidson oversaw a number of corporate activities, including the development of best practices, information technology, risk management and real estate tax appeals. He began his career in real estate in 1990 with Aegis Realty Consultants, which was acquired by BPG in 1998.

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

NAI Realvest Completes $1.1M Sale of former Whistle Junction Restaurant in Titusville, FL

ORLANDO, Fla. - NAI Realvest recently completed the $1,100,000 sale of the 10,811 square foot Whistle Junction restaurant facility located at 3125 Columbia Blvd. in Titusville.

Paul P. Partyka, (top right photo) principal and managing partner at NAI Realvest, negotiated the sale representing the seller Sovereign Investment Company of Palo Alto, Calif.

The property was purchased by Titusville-based SBI Leasing, Inc.

Partyka said this is the fourth former Whistle Junction restaurant sale handled by NAI Realvest this year, including locations in Melbourne, St. Cloud and Jacksonville.

For more information contact:
Paul P. Partyka, Managing Partner/Principal NAI Realvest, 407-875-9989, ppartyka@realvest.com
Patrick Mahoney, Principal/Chief Operating Officer, 407-875-9989
Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

Reno, NV Office-Warehouse Building Gets $1.55M Loan

Miami, Florida—September 14, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on September 10, 2009, in the amount of $1,550,000 for the 1320-1350 Freeport Office/Warehouse Building in Reno, Nevada.

Steve Wood, (top right photo) Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital, financed 1320-1350 Freeport through Thomas D. Wood and Company’s correspondent relationship with Symetra Financial.

The loan term is nine years, and the interest rate can be reset every three years, based on a 25-year amortization and a loan-to-value of 56%. The interest rate is 6.445%. The 47,893 square-foot office/warehouse building was built in 1990 and is located at 1320-1350 Freeport Boulevard, Reno, Nevada.

For further information, please contact:
Steve Wood, (305) 447-782, swood@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com

Senior Hospitality Executive Joins Wyndham Development Team

PARSIPPANY, N.J. (Sept. 14, 2009) – Wyndham Hotel Group, the world’s largest hotel company with more than 7,000 hotels and 11 brands, has appointed Matthew Sparks as senior vice president of development for the Wyndham Hotels and Resorts® brand.

In his new role, Sparks will be responsible for the growth and development of the Wyndham Hotels and Resorts brand’s portfolio through management and franchise agreements throughout the Western United States and Western Canada.

Prior to joining Wyndham Hotel Group, Sparks served in senior and executive level development roles for some of the world’s most well-known hotel companies and brands, including Fairmont Hotels & Resorts Worldwide, Starwood Hotels & Resorts Worldwide, Marriott International and Westin® Hotels and Resorts.

Most recently, he was senior vice president of global development for Fairmont Raffles Hotels International, where, based in Singapore, he directed development efforts for growth of the company’s portfolio in The Americas and Asia Pacific regions.

“With his impressive background of growing hotel brands around the world, Matt is a great addition to our team,” said Jim Alderman, (top left photo)  Wyndham Hotel Group executive vice president of global development. “He has extensive knowledge of North American markets and broad experience in deal structuring for management contracts and other complex transactions. These strong assets coupled with Matt's ability to build lasting client relationships will help us greatly as we continue to grow the Wyndham portfolio.”

CONTACT: Rob Myers, 973-753-6590, rob.myers@wyndhamworldwide.com

Gary Womack Returns to Grubb & Ellis as Vice President, Industrial Group

ONTARIO, Calif. (Sept. 14, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Gary Womack has rejoined the company as vice president, Industrial Group. Womack will specialize in industrial sales and leasing throughout San Bernardino County and Riverside County.

"Gary has been a part of the Inland Empire commercial real estate market for nearly 30 years," said Mano Leventakis,(top right photo)  executive vice president and managing director of Grubb & Ellis' Inland Empire operations. “We’re pleased that he is again part of our team.”

Womack began his commercial real estate career in 1980 with Johnson Shelton Commercial Real Estate Services. He worked at Grubb & Ellis from 1983 to 1992, during which time he ranked as one of the company’s top brokers in 1985, 1987, 1990 and 1991.

He spent the next 10 years as an owner and principle of California Asset Management, which provided asset management services to clients within the Inland Empire. Prior to returning to Grubb & Ellis, Womack was a vice president at DAUM, where he provided corporate and local real estate representation to companies in the industrial sector.

Womack holds a bachelor’s degree from California State Polytechnic University. He is a member of the American Industrial Real Estate Association and is a licensed California real estate broker.

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

Grubb & Ellis Tapped as Leasing Agents of Prime Group Realty Trust’s East/West Corridor Office Portfolio

ROSEMONT, IL (Sept. 14, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Prime Group Realty Trust has selected the company as the leasing agent for seven office buildings totaling nearly 408,000 square feet and located in the East/West Corridor office submarket.

Michael Fortuna, senior vice president, and Brett Ratay, vice president, both of the company’s Office Group, will assist Prime Group in leasing the available space in the buildings, with the focus of their efforts being The Olympian Office Center in Lisle and Brush Hill Office Courte in Westmont.

The team has also been selected as the listing agents for Enterprise Center II in Westchester and The Atrium in Naperville.

“These quality office buildings offer excellent opportunities in the East/West submarket,” said Fortuna. “We’re pleased to have been selected to assist Prime Group in leasing the balance of its East/West suburban portfolio.”

The Olympian Office Center is a seven-story 167,756-square-foot office building located at 4343 Commerce Court in Lisle.

 Built in 1987, the Class A facility offers amenities including an atrium, conferencing facility, fitness center, food service and on-site management. Approximately 46,000 square feet is currently available for lease in the building.

Brush Hill Office Courte, located at 740, 750, 760 and 770 Pasquinelli Drive in Westmont, comprises four Class B buildings totaling 108,445 square feet. Built in 1986, the complex offers a campus-like setting and easy access to I-290, I-294, I-88 and I-355. Approximately 34,650 square feet is currently available.

Built in 1986, Enterprise Center II is a single-story 62,580-square-foot office building located at 2305-2315 Enterprise Drive in Westchester. The Class B facility, which is currently 100 percent leased, offers a central dock, 24-hour access, individual HVAC control and convenient access to I-88, I-290 and I-294.

The Atrium is a Class B, handicap-accessible facility offering access to public transportation and ample parking. Complete with a distinctive two-story lobby/common area, the 69,077-square foot building is located at 280 Shuman Blvd. in Naperville and currently has 7,365 square feet available.

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

Fitch: U.S. CREL CDO Delinquencies Hold Steady on Extensions & Loan Sales

Fitch Ratings-NY-Sept. 14, 2009: Asset managers continue to extend maturing loans with 54 extensions (4.8% by number) reported in August, which helped to bring U.S. CREL CDO delinquencies down slightly last month, according to the latest CREL CDO Delinquency Index results from Fitch Ratings.

‘While these extensions reduce the number of matured balloon loans entering the CREL DI, they are in many cases merely deferring eventual losses to the CDOs,’ said Senior Director Karen Trebach.

The Fitch CREL CDO Delinquency Index (CREL DI) for August declined to 7.5% from 7.6% last month, with the removal of six loans offsetting the addition of 10 new delinquent ones. Realized losses on the removed loans were $65 million, including a total write off of a $26 million mezzanine loan interest backed by an office portfolio. The average recovery on loans resolved in August was 55.8%. Had the loans that were resolved at a loss over the past four months (1.9%) remained in the transactions, the CREL DI would have been 9.4% this month.

In August, a total of 11 of the 35 Fitch rated CREL CDOs were failing at least one overcollateralization (OC) test, which is one higher than last month. Failure of OC tests leads to the cutoff of interest payments to subordinate classes, including preferred shares, which are typically held by the CDO asset managers.

 Fitch is concerned about the additional stress these asset managers face as their cash flow continues to be
cutoff. If a manager loses its financial wherewithal, it may no longer be able to effectively manage the collateral of the transaction. For example, less financial capacity could lead to the loss of experienced staff, the inability to make protective advances or the weakened ability to defend its position in litigation or foreclosure.

Assets that are 30 days or less past due totaled 2.8% in August led by delinquent interests in the Resorts International Portfolio loan  (41 bps).

Fitch anticipates high default rates and low recoveries on the loans within the CDOs as these loans mature into the trough of the current commercial real estate cycle. Fitch is finalizing review methodology and anticipates significant downgrades to all Fitch rated CREL CDOs in the coming months.

The universe of 35 Fitch rated CREL CDOs currently encompasses approximately 1,100 loans and 350 rated securities/assets with a balance of $23.8 billion. The CREL delinquency index includes loans that are 60
days or longer delinquent, matured balloon loans, and the current month's repurchased assets.

Contact: Karen Trebach,  +1-212-908-0215, or Stacey McGovern, +1-212-908-0722, New York.

Media Relations: Sandro Scenga, New York, Tel: +1 212-908-0278; sandro.scenga@fitchratings.com

Cousins Announces Impairment Charge

ATLANTA -- Cousins Properties Incorporated (NYSE: CUZ) today announced that it intends to recognize in the third quarter of 2009 an impairment charge of $39 million, or approximately $0.74 cents per share, related to the Company’s joint venture interest in Terminus 200, (top right photo)  a 565,000-square-foot office tower located in the Buckhead submarket of Atlanta.

The impairment charge does not impact the Company’s ownership interest in the venture, and the Company continues as property manager and leasing agent.

The Company owns a 50% joint venture interest in Terminus 200, which was substantially completed in August 2009. During the second quarter of 2009, the venture executed a 50,000-square-foot lease for the property and is in ongoing negotiations with several potential tenants, but no additional leases have been executed.

Based on the Company’s current expectations of the amount and timing of cash flows from Terminus 200 and other considerations, the Company has determined that the estimated fair value of the investment is lower than the book value.

Pursuant to Accounting Principles Board Opinion No. 18, this difference must be recorded as an impairment because the Company deems it to be other than temporary.

The impairment charge includes the Company’s full investment in the venture (approximately $21 million as of June 30, 2009), a $17.25 million loan repayment guarantee under the project construction loan, and obligations under the existing lease.

In addition, the Company today filed with the Securities and Exchange Commission a current report on Form 8-K containing additional information regarding the Terminus 200 project, information regarding an anticipated impairment from the sale of its corporate airplane and information regarding anticipated outparcel and tract sales in the third quarter of 2009. This filing is available on the investor relations page of the Company’s website.

Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com

Cousins Properties Announces Results of Third Quarter Dividend Elections

ATLANTA -- Cousins Properties Incorporated (NYSE: CUZ) announced today the results of the shareholders’ elections relating to Cousins’ third quarter common stock dividend of $0.15 per share declared by its Board of Directors on July 15, 2009.

The dividend will consist of approximately $2,617,000 in cash and 676,000 shares of common stock.

 The amount of cash elected to be received was greater than the cash limit of 33.34% of the total value of the dividend or approximately $2,617,000, and therefore, shareholders who elected to receive all cash will receive a combination of cash and stock.

The number of shares included in the dividend is calculated based on the $7.73 average closing price per share of Cousins’ common stock on the New York Stock Exchange on September 3, September 4, and September 8, 2009. The dividend of $0.15 per share will be paid as follows:

---to shareholders electing to receive the dividend in all stock, Cousins will pay the entire dividend in common stock;

---to shareholders either electing to receive the dividend in all cash or failing to make an election, Cousins will pay the dividend in the form of $0.051 per share in cash and $0.099 per share in common stock; and Cousins will pay fractional shares in cash.

Registered shareholders with questions regarding the dividend election may call American Stock Transfer & Trust Co., Cousins’ transfer agent, at 1-800-937-5449. If your shares are held through a bank, broker or nominee and you have questions regarding the dividend election, please contact your bank, broker or nominee.

The issuance of approximately 676,000 shares of Cousins’ common stock pursuant to this dividend resulted in an effective increase of 1.3% in shares of common stock outstanding on the record date of August 3, 2009. Share and per share information will be adjusted in subsequent financial information, beginning with Cousins’ third quarter earnings release, to reflect this increase in shares of common stock.

Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com
http://www.cousinsproperties.com/

Fitch: Liquidity for U.S. Equity REITs Slowly on the Mend

Fitch Ratings-NY-11 September 2009: Access to unsecured debt is improving for U.S. equity REITs, according to Fitch Ratings in a new report.

Though concentrated among select issuers, the upswing has been taking place since the second quarter of this year. If more REITs are able to gain access to unsecured debt over time, Fitch may revise its Outlook on the U.S. equity REIT sector to Stable from Negative.

Given the demonstrated ability by many REITs to raise common equity through follow-on offerings coupled with unsecured bond issuance activity, Fitch’s rating actions over the near term will be driven by REITs’ liquidity positions along with other credit considerations collectively, as opposed to liquidity primarily.

‘Though liquidity may be more of a concern for certain REITs with more sizeable shortfalls, liquidity across the U.S. equity REIT sector is mproving modestly,’ said Steven Marks, (top right photo) Managing Director and U.S. REIT Group Head. ‘Maintaining a liquidity surplus remains a key factor for Fitch’s equity REIT ratings.’

REIT Unsecured bond issuance volume and terms have improved materially, with 62% of $6.7 billion in unsecured bond issuance year-to-date taking place after June 30, 2009.

Credit spreads over comparable treasuries on
such transactions narrowed by 235 basis points at issuance relative to transactions prior to June 30, 2009, enabling more opportunities for transactions acceptable to REITs.

Additionally, after June 30, 2009, REITs raised approximately $1.5 billion in equity offerings, bringing equity issuance across the sector to $14.4 billion year-to-date. ‘The market’s acceptance of these transactions has enabled REITs to reduce leverage, as well as strengthen liquidity,’ said Marks.

 ‘However, REITs may be reluctant to continue such issuance due to the impact of further dilution to the extent such offerings are more defensive or liquidity-enhancing, as opposed to acquisition-driven, which is a concern.’

The CMBS market faces continued challenges while pension funds, insurance companies and other secured lenders are reducing secured lending activity. Despite this, REITs continue to demonstrate access to the mortgage financing market.

While most REITs are refinancing mortgages on more onerous terms, secured lenders’ asset and sponsor selectivity has favored publicly-traded REITs’ portfolios. As such, Fitch has enhanced its approach towards analyzing REIT liquidity by including sensitivities addressing various scenarios of refinancing prospects for REITs’ upcoming secured debt maturities.

The median of REITs’ liquidity cover, defined as sources of liquidity divided by uses of liquidity for the projection period of July 1, 2009 to Dec. 31, 2011 is 1.1 times.

This level indicates that most REITs with investment grade ratings have liquidity surpluses over the next two and a half years, which is beyond the 12-to-24 month timeframe Fitch has typically assessed.

‘REITs are not immune from recent headline risk regarding ongoing commercial real estate fundamental challenges,’ said Marks. ‘However, REITs are set apart from other commercial property owners from a contingent liquidity standpoint.’

Contact:
Steven Marks,  +1-212-908-9161, Sean Pattap,  +1-212-908-0642 or Joseph Engelken,  +1-212-908-0569, New York.

Media Relations: Sandro Scenga, New York, Tel: +1 212-908-0278; sandro.scenga@fitchratings.com

Citi’s Office Campus in Jacksonville, FL Chosen as World’s Top Corporate Facility for 2008-2009

SANTA ANA, CA – Financial services leader Citigroup Inc. (NYSE: C) announced today that the Building Owners and Managers Association International named the Citi Jacksonville Office Campus in Jacksonville, Florida, “The Office Building of the Year” in the Corporate Facility category for 2008-2009. The campus is owned by Citi and managed by Grubb & Ellis Management Services, Inc., a wholly owned subsidiary of leading real estate services and investment firm Grubb & Ellis Company (NYSE: GBE).

TOBY winners were recognized for excellence in office building management and operations in specific categories of building size or type. To win the international award, the office buildings first won both local and regional competitions. Judging was based on community impact, tenant/employee relations programs, energy management systems, accessibility for disabled people, emergency evacuation procedures, building personnel training programs and overall quality indicators. Now in its 24th year, the TOBY Awards Program is recognized as one of the most prestigious and comprehensive programs in the commercial real estate industry.

“This award is a reflection of the culture we have built together, the work we do in the community, and the difference we make in the lives of others,” said Citi’s Jacksonville Site President Kristi Bageant-Epperson, Head of Branch Services for Citibank North America. “I am so proud of this Jacksonville team. I also want to thank and recognize Sheila Cribb, her Citi Realty Services team, and the Grubb & Ellis team, led by Senior Facility Manager Kim Newhouse for all they do for our campus.”

Grubb & Ellis Management Services has managed Citi’s Jacksonville Office Campus since it was built in 2004. “We are fortunate to have a close working relationship with Citi,” said Newhouse. “We are excited and proud to have teamed with Citi in earning the highest TOBY recognition possible, as well as to manage the first building in Jacksonville to have received the award.”

Grubb & Ellis Management Services’ national facility management relationship with Citi is led by Nanci D’Alessandro, Vice President and National Accounts Manager. Joseph Swingle, Executive Managing Director, Global Client Services, leads Grubb & Ellis teams delivering facility management services to the company’s national accounts.

The Citi Campus stretches across 628,000 square feet and consists of four, three-story interconnected buildings and two additional stand-alone buildings. Citi’s 4,800 employees enjoy the benefits of a state-of-the-art childcare facility, an on-site health and fitness center, medical center, full service café, and a 3.5 acre wildlife habitat. The campus is also registered with the U.S. Green Building Council, pursuing a LEED for Existing Buildings certification, for leadership in energy and environmental design.

This is the second year in a row a Grubb & Ellis Management Services-managed property has won the International TOBY in the Corporate Facility category – the Sony Building located in New York won the award last year.

Founded in 1907, the Building Owners and Managers Association International is an international federation of more than 100 local associations and affiliated organizations. The 17,000-plus members of BOMA International own or manage more than 9 billion square feet of commercial properties in North America and abroad. BOMA’s mission is to enhance the human, intellectual and physical assets of the commercial real estate industry through advocacy, education, research, standards and information. On the Web at www.boma.org.

Contacts:

Erin Mays, 734.223.8288, erin.mays@grubb-ellis.com
Janis Tarter, 415.658.4256, janis.tarter@citi.com