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Commercial Real Estate

Is commercial real estate company Grubb & Ellis selling or merging?

Grubb & Ellis, a name you know

One of the most recognizable names in the commercial real estate industry, Grubb & Ellis has been around for fifty years and in recent years has merged with other companies and moved their headquarters to Santa Ana, California.

Grubb for sale

Grubb & Ellis is reportedly now for sale or up for a merger, due in part to market conditions and unsolicited inquiries which has led them to hire a consultant to advise them on their alternatives, according to a recent SEC filing.

Grubb lost $66.8M last year, putting the company in need for “greater capital to continue to reinvest and grow over the next few years,” Grubb spokeswoman Janice McDill said in a comment to the OC Register.

Because of the potential sale or merger, its board opted to defer paying its CEO a bonus.

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Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.

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