Friday, December 10, 2010

Abingdon Apartments Sold to JAIR LYNCH Development Partners/MacFarlane Partners

WASHINGTON, DC – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that its Multi Housing group represented The Brick Companies in the sale of Abingdon House Apartments, an 82-unit mid-rise apartment complex in the Pentagon City area of Arlington, Va., to a joint venture of JAIR LYNCH Development Partners and MacFarlane Partners.

The purchase price was not disclosed.

Christopher Doerr, vice president, and Rachel Ley, associate, represented the seller in the disposition of the building, located at 815 18th St. S.

“This offering represented the opportunity to purchase a fully stabilized, mid-rise building in Pentagon City, one of the Metro area’s strongest rental submarkets,” said Doerr. 

 “It’s rare to buy a property from the original owner, and the fact that The Brick Companies owned the property since it was built in 1963 greatly added to its value.

"It has been meticulously maintained and amenities were adopted organically – everything from the brick façade to its balconies and outdoor recreation areas makes it stand out among the newer steel and concrete high-rises.”

The property is within walking distance to world class retail, restaurants and parks, including Crystal City, The Fashion Centre at Pentagon City (lower right photo) and Virginia Highlands Park. 

The property is located in one of the top school districts in the country and is across the street from a branch of the Arlington public library.  The property is currently 100-percent leased. 

Contact:  Erin Mays                                            
Phone:     312.698.6735                                       

Grubb & Ellis Declares Preferred Stock Dividend

SANTA ANA, CA (Dec. 10, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced today that its board of directors has declared a dividend of $3.00 per share on the company’s 12% Cumulative Participating Perpetual Convertible Preferred Stock to stockholders of record as of December 20, 2010.  The dividend is for the quarterly period from October 1, 2010 and is payable on December 31, 2010.

Contact:  Janice McDill
Phone:     312.698.6707                                     

Palmer Electric Wins UCF Contract in Orlando

 WINTER PARK, FL— Palmer Electric Company has secured a continuing services contract from the Facilities Department of the University of Central in Orlando, Fla.

Under the scope of services, Palmer Electric’s Low Voltage division will provide voice, data and communications services on an as-needed basis campus-wide. The one-year contract has three, one-year renewals.

Palmer Electric has extensive experience at the University’s main campus that includes the new Arts Complex II and the recently completed Solar Electric Vehicle Charging Station. Additionally, Palmer Electric has wired four student dormitories, four multi-level parking structures and the Knight’s Plaza.               

Contact: Elaine Ingra, 407 384-1344,

Central Florida Builders’ Exchange Elects Officers and Board of Directors

            WINTER PARK, FL,— Central Florida Builders’ Exchange is pleased to announce its 2010 - 2011 board of directors: Robert High, H. J. High (top right photo),Construction, chair; David L. Shaw (top left photo), Shaw Mechanical Services LLC, vice chair; Tony Salvo, Just Concrete & Masonry Inc., secretary;  Michael Thornton, Clancy & Theys Construction Company, treasurer.

The directors are Steve Belflower, AIA, HuntonBrady Architects; Adam Eckelbarger, Mader Southeast Inc.; Vince Horton, Advantage Integration Technology Inc.; Deanna Jenkins, Thomas Lumber Co. Inc.; John Mathews, J B Mathews Co.; Charles Wallin, Florida Rock Industries Inc.; and Robert K. Vaughn, Palmer Electric Co.

            Trudi Larson, president, remains at the helm of the organization, a position she has held since 1995.  

        Headquartered in Winter Park, Florida, Central Florida Builders’ Exchange, a member-owned, commercial construction association celebrating 66 years in business, is one of the oldest and largest design, engineering and construction related associations in Central Florida.

Serving the needs of architects, engineers, contractors, suppliers and vendors since 1944, the association provides information, project leads, and a physical and Internet plan room to its 500 members.

 Please visit  for additional information.

Contact:  Elaine Ingra, 407 384-1344,