Grubb & Ellis Realty Investors acquired Gateway One in February 2006 on behalf of tenant-in-common investors. The property is a 15-story, Class A, 409,000 square-foot, office tower located in St. Louis, Mo. Gateway One is 100 percent leased to a combination of retail and office tenants, including Peabody Holding Company as its largest tenant leasing approximately 160,000 square feet.
The property was awarded the TOBY in the 250,000 to 499,999 square feet division.Now in its 23rd year, the mission of the TOBY Awards, according to BOMA International, is to recognize excellence in building management, operational efficiency, tenant retention, emergency planning and community impact.
Locally, the competition involves a site inspection and interview by a team of judges comprised of chapter members of different professions, and includes at least one property manager or a building engineer.
"This is a prime example of the high standards we hold when acquiring properties on behalf of investors," said Kent Peters, Executive Vice President of Grubb & Ellis Realty Investors.Grubb & Ellis Realty Investors has received awards in all categories of the TOBY including local, regional and international. Gateway One will now compete for the regional TOBY in the Midwest Northern region.
About Grubb & Ellis Realty InvestorsGrubb & Ellis Realty Investors, LLC is the real estate investment and asset management subsidiary of Grubb & Ellis Company (NYSE:GBE), a leading real estate services and investment firm. Grubb & Ellis Realty Investors and affiliates manage a growing portfolio of assets valued in excess of $5.7 billion located throughout 30 states.
One of the nation's most active buyers and sellers of commercial real estate, Grubb & Ellis Realty Investors has completed acquisition and disposition volume totaling approximately $10 billion on behalf of program investors since its founding in 1998; more than 70 percent of this volume has been transacted since Jan. 1, 2005.
Grubb & Ellis Realty Investors and affiliates are currently buying and selling properties throughout the United States, offering a full range of commercial real estate investment programs, including tenant-in-common (TIC) programs for investors structuring tax-deferred (like-kind) exchanges under Section 1031 of the Internal Revenue Code, non-traded public real estate investment trusts (REITs), multi-member limited liability companies (LLCs) and institutional investments.
Through the Grubb & Ellis Wealth Management program, Grubb & Ellis Realty Investors also offers high net worth investors a comprehensive program to build or expand their commercial real estate portfolio, whether their investment objectives are 1031 exchange driven or not.
About BOMA International
BOMA International was founded in 1907 as the National Association of Building Owners and Managers. The association assumed its present name in 1968 as it broadened its reach to include Canada and other affiliates around the globe.
Today, BOMA International represents 92 local associations throughout the United States and 12 affiliates in Australia, Brazil, Canada, Finland, Indonesia, Japan, Korea, Mexico, the Philippines, Russia and South Africa. BOMA's 16,500-plus members own or manage more than nine billion square feet of commercial properties in North America.
BOMA International is a primary source of information on office building development, leasing, building operating costs, energy consumption patterns, local and national building codes, legislation, occupancy statistics and technological developments.
Throughout BOMA International's 100-year history, its goal has always focused on actively and responsibly representing and promoting the interests of the commercial real estate industry through effective leadership and advocacy, through the collection, analysis and dissemination of information, and through professional development.
First Call Analyst
FCMN Contact
Source: Grubb & Ellis Realty Investors, LLC
CONTACT:
Julia McCartney,
+1-714-667-8252, ext. 230,
or
Jill Swartz,
+1-714-667-8252, ext. 251,
both of Grubb & Ellis Realty Investors, LLC
HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of and secured financing for Sharpstown Court, (photo top right) an 84,188-square-foot retail center in southwest Houston.
