Grubb & Ellis Represents Receivership in Sale of 69,000-SF Temecula Creek Plaza in Temecula, CA

NEWPORT BEACH, CA (Aug. 19, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Michelle Schierberl, CCIM, senior vice president, Institutional Capital Markets, and Donald Ellis, associate, Investment Group, sold Temecula Creek Plaza, (top left photo) a 69,000-square-foot retail center, to a private investor on behalf of the property’s receivership.

Robert Griffith, senior vice president, Financial Services Asset Management, who represents the property’s special servicer, JER Special Servicing, throughout Southern California, assisted the investment team in the transaction. Financial terms were not disclosed.

Located at 31021 – 31141 Temecula Parkway, Temecula, Temecula Creek Plaza was 68 percent leased at the time of the sale and anchored by CVS Pharmacy and Guaranty Bank. Built in 2007, the property is located within

close proximity to Temecula Creek Inn Golf Resort.

William Meinhold of Swoboda Hospitality Specialists represented the buyer in the transaction.

Contacts:

Erin Mays Phone: 312.698.6735Email: erin.mays@grubb-ellis.com
Julia McCartney 714.975.2230 julia.mccartney@grubb-ellis.com