Justin R. Lanné Joins Grubb & Ellis as Senior Vice President, Investment Services

TUCSON, AZ (Sept. 8, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Justin R. Lanné (top right photo) has joined the company as senior vice president, Investment Services.

“A seasoned multi housing investment professional, Justin is a significant addition to our office,” said Howard Kong, (middle left photo)  CCIM, managing broker of Grubb & Ellis’ Tucson office.

 “He brings extensive relationships with clients and industry professionals to our team, as well as a dedication to client service that has proven successful throughout his career.”

Lanné joins from Lanné Company, a Tucson-based commercial real estate company he founded in 1985 to specialize in multi housing investments.

Prior to joining his own company, he spent eight years with Coldwell Banker Commercial, where he was the top producer of the Tucson office five times.

Over the course of his 33-year career, Lanné has completed transactions valued in excess of $414 million, including the sale of approximately 6,500 multi housing units, on behalf of clients such as Cottonwood Properties and Cyprus Minerals.

Lanné holds bachelor’s and master’s degrees from the University of Arizona and serves on the board of directors of the Pima County Sports and Tourism Authority.

He also serves as the chairman for The Celebrity Waiters Dinner, a sanctioned fund-raising event of The Leukemia and Lymphoma Society.

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

HFF arranges $15M financing for Stamford, CT Stop & Shop

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $15 million financing for a 69,733-square-foot, free-standing Stop & Shop (top left photo) on more than seven acres in Stamford, Connecticut.

HFF senior managing director Dana Brome (top right photo)worked on behalf of the borrower, Cole Real Estate Investments, to secure the seven-year, fixed-rate loan through Farmington Bank.

The term loan is interest-only for the first three years and on a 30-year amortization thereafter until maturity in 2017. The loan was priced as a floating-rate of 1-month LIBOR plus 200 bps. The loan rate was swapped to fixed, at a rate of 4.31%.

The Stop & Shop is located at 1937 West Main Street (Route 1) in Stamford and adjacent to the Greenwich town line. Completed in 2006, the property is fully leased to Stop & Shop with 21 years remaining on the 25 year lease.

In addition, Stop & Shop has 11 five-year extension options. The lease is fully guaranteed by Koninklijke Ahold, N.V., the parent company of Stop & Shop.

Founded in 1979, Cole Real Estate Investments is one of the most active investors and owners of core real estate assets, managing one of the country’s largest portfolios of retail properties.

Today, Cole owns or manages 32 million square feet of commercial real estate in 45 states with a combined acquisition cost of more than $6 billion.

Contacts:

Dana e. Brome, HFF Senior Managing Director, (617) 338-0990, dbrome@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com

$114M financing for six-property multi-state industrial portfolio arranged by HFF

PORTLAND, OR – The Portland office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $114 million in financing for six industrial distribution facilities totaling 4.7 million square feet located in Georgia, Illinois, Ohio, Pennsylvania and Texas.

HFF senior managing director Lloyd Minten worked exclusively on behalf of Cardinal Industrial Real Estate Services to secure the loan, which will be included in an upcoming CMBS securitization and serviced by HFF.

 Loan proceeds were used to acquire the portfolio from Dividend Capital Trust who acquired these assets as part of the iStar portfolio sale, which was closed by HFF Securities and financed by HFF.

Completed in the mid-to-late 1990’s, the portfolio consists of “strategically-located” bulk distribution centers in Georgia, Illinois, Ohio, Pennsylvania and Texas.

“The entire process from the initial call from the borrower to the closing took only 31 days, which emphasized the commitment by the borrower and lender, who worked diligently to complete this transaction under significant time constraints.

"The lender’s planned securitization of this loan underscores the improvements in the capital markets through the reemergence of the CMBS market,” said Minten.

With the acquisition, Cardinal Industrial increased their portfolio of single tenant industrial assets located throughout the United States to approximately 13.4 million square feet.

Contacts:
Lloyd L. Minten, HFF Senior Managing Director, (503) 224-0444, lminten@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com

HFF arranges $23M in debt plus the equity required for construction of suburban Philadelphia multi-housing community

WASHINGTON, D.C. – The Washington, D.C. and New Jersey offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged construction financing and joint venture equity for Jefferson at West Goshen (middle  right rendering), a to-be-built, 230-unit luxury multi-housing community in West Goshen, Pennsylvania.

HFF senior managing directors Bob Donhauser (lower left photo)  and Bill Asbill  (lower right photo) and managing director Jim Cadranell (bottom left under Bob Donhauser photo) worked on behalf of the borrower, Jefferson Apartment Group, to secure the $22.85 million, 36-month construction loan through Wells Fargo’s Real Estate Banking Group.

 AEW Value Investors II, a value-added real estate fund sponsored by AEW Capital Management, L.P., provided joint venture equity for the project.

Due for completion in 2011, Jefferson at West Goshen will be a four-story building with one-, two- and three-bedroom units averaging 1,024 square feet each.

 Community amenities will include a 5,600-square-foot clubhouse, resident pub room, business center, two-story fitness center, theatre room, swimming pool, grill area and dog park.

The property is located on a 12.8-acre site at the intersection of US Route 202 and South Matlack Street, about one mile from downtown West Chester and 25 miles west of downtown Philadelphia.

“Jefferson at West Goshen will be well-received in the market as demand for luxury apartments in this high employment corridor has been strong, yet the high barriers to entry have limited development of Class A projects,” said Donhauser.

“HFF did an excellent job assisting Jefferson Apartment Group in acquiring debt in a very challenging market. This closing represents one of the first ground-up projects to get started in this market in over three years. This closing says a lot about JAG’s experience and sponsorship; we look forward to closing other loans in the coming months,” said Jim Butz, president and managing partner of Jefferson Apartment Group.

Founded in 2009 through the acquisition of JPI East, the Jefferson Apartment Group’s principals have acquired and/or developed more than 18,000 units with a value of more than $3 billion in 10 states along the East Coast. See www.JAGllc.com.

Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $27 billion of capital invested in over $40 billion of property and securities in North America, Europe and Asia (as of June 30, 2010). For more information please visit www.aew.com.

Contacts:

James A. Cadranell, HFF Managing Director, (973) 549-2007, jcadranell@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com

NAI Realvest Negotiates New Lease at Winter Garden Business Park for German-based lab equipment manufacturer

ORLANDO, FL - NAI Realvest recently negotiated a new office lease agreement for 2,500 square feet of space at the Winter Garden Business Park (top left photo), 1226 Winter Garden Vineland Rd. in Winter Garden.

NAI Realvest associate Drew Saphos along with principal Christie Alexander and George Livingston, chairman at the firm, negotiated the three-year agreement representing the tenant, Medite Inc., a German-based manufacturer of lab equipment.

The landlord is Adler Winter Garden, LLC (a division of Miami-based Adler Group).

For more information,  contact
Drew Saphos, NAI Realvest 407-875-9989 dsaphos@realvest.com;
Christie Alexander, Principal, NAI Realvest 407-949-0704 calexander@realvest.com
George Livingston, Chairman Emeritus, NAI Realvest 407-875-9989 glivingston@realvest.com
Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com

NAI Realvest negotiates two new industrial leases totaling 4,500 square feet at commerce centers in Apopka and Orlando

ORLANDO, Fla. – NAI Realvest recently negotiated two new industrial leases totaling 4,500 square feet at Mackin Commerce Center in Apopka and Forsyth Central Commerce Park in Orlando.

NAI Realvest principal Michael Heidrich negotiated a new lease agreement with Miami-based Power Exterminators, Inc. for Suite 2 with 3,000 square feet at 5032 Forsyth Commerce Rd., representing the landlord, Maitland-based Forsyth Central Commerce Park, LLC.

Heidrich also represented landlord Mackin Commerce Center, Ltd. of Orlando in the lease of 1,500 square feet in Suite B5 at 2312-2310 Clark St. in Apopka. Local landscape and pressure cleaning firm EZ4U P&O and Paul Roger Jenkins III leased the property for two years. David Hammett of McNulty Group represented the tenant in the transaction.

For more information, contact:
Michael Heidrich, Principal NAI Realvest, 407-875-9989 mheidrich@realvest.com;
Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com


Emerson International Negotiates New Long-Term Office Lease at Major Center Plaza in southwest Orlando

ORLANDO, Fla. --- Emerson International recently completed a new five-year lease agreement for 3,324 square feet of office space at Major Center Plaza (middle left photo), 5728 Major Blvd. in southwest Orlando.

Eric Emerson, (middle right photo) vice president and general manager of Emerson International, said commercial portfolio manager Kenneth Koch negotiated the lease for the landlord, Emerson.

The new tenant, Insphere Insurance Solutions, Inc., was represented by Rick Solik of Cushman & Wakefield.

For more information, contact
Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560; ejemerson@emerson-us.com;
Kenneth Koch, Commercial Portfolio Manager, Emerson International, Inc. 407-834-9560;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

NAI Realvest Brokers sale of development site in Southeast Orlando for a new Tire Kingdom Store

ORLANDO, FL – NAI Realvest recently negotiated the $585,000 purchase of Lot 1, a 0.70-acre retail development site at 7138 Narcoossee Rd. in southeast Orlando for a new Tire Kingdom store.

NAI Realvest Principals Kevin O'Connor (lower left photo)  and Matt Cichocki (lower right photo) negotiated the transaction representing both the buyer and the seller.

The buyer, Pavilion TK-Narcoossee, LLC based in Charlotte, N.C. is a developer for Tire Kingdom and plans to construct a 7,100 square foot store on the site.

Thomas Bardon and Lawrence and Terri Razzano of Orlando are the sellers.

This is the eighth Central Florida location the NAI Realvest retail team of O’Connor and Cichocki has secured for Tire Kingdom, with three additional sites under contract.

For more information, contact:
Kevin O’Connor or Matt Cichocki, Principals NAI Realvest, 407-875-9989
koconnor@realvest.com; mcichocki@realvest.com
Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Beth Payan or Larry Vershel, Larry Vershel Communications, Inc. 407-644-4142

Emerson International Negotiates New Long-Term Office Lease at Major Center Plaza in southwest Orlando

ORLANDO, FL. --- Emerson International recently completed a new five-year lease agreement for 3,324 square feet of office space at Major Center Plaza, (top left photo) 5728 Major Blvd. in southwest Orlando.

Eric Emerson (bottom left photo), vice president and general manager of Emerson International, said commercial portfolio manager Kenneth Koch negotiated the lease for the landlord, Emerson.

The new tenant, Insphere Insurance Solutions, Inc., was represented by Rick Solik of Cushman & Wakefield.

For more information, contact
Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560; ejemerson@emerson-us.com;
Kenneth Koch, Commercial Portfolio Manager, Emerson International, Inc. 407-834-9560;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Concord Hospitality Signs Three New Management Contracts

RALEIGH-DURHAM, N.C., Sept. 8, 2010—Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, today announced that it has signed contracts to manage the Courtyard by Marriott Lynchburg, in Va.; Courtyard by Marriott Princeton, in N.J.; and Courtyard by Marriott Charlotte, in N.C.

The three properties represent the latest round of additions to Concord Hospitality Enterprises’ growing 3rd party management portfolio. Concord currently owns and/or operates more than 70 hotels, offering more than 9,000 rooms, with several hotels under development.

“The recovering economy has encouraged us to actively seek out institutional partners with upscale select service hotels who want to rebound quickly,” said Mark G. Laport, (top right photo) president and CEO of Concord.

“We have had more significant company growth in the last 24-month period than in our 24-year history. Our focus in this phase of the cycle will be to continue growing our 3rd party management portfolio, supported by development. Our current portfolio mix is split about evenly between third-party management and owned hotels.

“All three of these properties will undergo some capital enhancement renovation projects, including the latest Marriott innovations, such as the new Refreshing Business lobby, to keep the properties fresh and highly competitive,” Laport added.

The Courtyard by Marriott Lynchburg (Va.)(middle left photo)—The 90-room hotel is located at 4640 Murray Place/Candlers Mountain Road, directly off Highway 460, near the Lynchburg Regional Airport and proximate to Liberty University. The three-story property features 990 square feet of flexible meeting and banquet space, indoor swimming pool, fitness center and the Courtyard Café eatery. All rooms offer coffee makers, irons, high-speed Internet access and 32" flat-screen televisions.

The Courtyard by Marriott Princeton (N.J.)(middle right photo)—Situated on 3815 US Route 1 at Mapleton Road, the hotel is near Princeton University and the Princeton Healthcare System. The 154 guestrooms offer oversized work areas with two-line telephones with voicemail, ergonomic chairs and complimentary Internet access. The property features the Courtyard Café restaurant, indoor pool, fitness center and 1,344 square feet of meeting space.

The Courtyard Charlotte City Center (N.C.) (lower left photo)—The 181-room hotel is located in Charlotte’s financial and entertainment districts at 237 South Tryon Street and is near the world headquarters of Bank of America, Wachovia Corporation and Duke Energy Corporation. The hotel occupies the top four floors of a 15-story building and features an outdoor pool, fitness center, 2,800 square feet of meeting space, onsite restaurant, lobby bar and lounge. All guestrooms feature large, well-lit work areas, coffee makers, high-speed Internet access and new 32”-42” high-definition, flat screen televisions.

Contact: Chris Daly, Senior Vice President, Daly Gray Public Relations, or Jerry Daly,
ph: 703-435-6293.  Follow us on Twitter: http://twitter.com/dalygray

Colliers International Completes $3.45 Million Industrial Building Sale in Santa Fe Springs, CA

LOS ANGELES, CA, Sept. 7, 2010 – Colliers International, the second largest real estate services organization globally, has completed the sale of a 32,006-square-foot industrial building at 13021 Arctic Circle in Santa Fe Springs, Calif., to Cerritos, Calif.-based GHI Group, LLC, a manufacturer of computer components, for $3,456,648.

With immediate access to the 5, 605 and 91 freeways, the state-of-the-art property was constructed in 2004 and features dock-high and ground-level loading, an ESFR sprinkler system, 24-foot clear height and heavy power.

GHI Group has plans to occupy the high-image building for the warehousing and distribution of its products, but is also considering leasing the building as an investment property.

“The buyer acquired this property both for its size, which allows for future company expansion, and its investment potential,” said Chris Sheehan (top right photo), director of industrial services in Colliers’ Torrance office. “This high-image industrial building also provided a unique opportunity for our client to own a quality piece of real estate in a market where the Class A inventory and opportunities are limited.”

Sheehan, along with Adam Deierling (lower left photo), vice president in Colliers’ Torrance office, represented the buyer in the transaction.

Dan Berkenfield of VOIT Real Estate Services represented the seller, Dodson, LTD., a private investor.

Contact: Megan Morales, Marketing & PR Coordinator, 949 724 5537, megan.morales@colliers.com

Loan Defaults Near $65 Billion In South Florida Since 2007

MIAMI, FL--Borrowers have defaulted on nearly $65 billion in financing in the tricounty South Florida region since the real estate crash began in 2007 as an increasing number of strategic defaults drive up the total amount past due, according to a new report from CondoVultures.com.

In the first eight months of 2010, lenders have initiated nearly 44,000 foreclosure filings - the first step in the repossession process - seeking repayment of nearly $12 billion in outstanding loans secured by properties in Miami-Dade, Broward, and Palm Beach counties, according to the report based on the Condo Vultures® Foreclosure Database™.

South Florida borrowers - some of which are choosing not to pay their mortgages despite having the financial means to do so - are on track to default on more than $18 billion in real estate loans by the end of the year, according to the report compiled using Clerk of the Court records from Miami-Dade, Broward, and Palm Beach counties.

"An interesting trend is emerging in South Florida in that the number of foreclosure filings is decreasing but the average loan amount in default is increasing due in large part to borrowers who are strategically defaulting," said Peter Zalewski (middle right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "Our research suggests that many South Florida borrowers are opting to not pay their mortgages, and virtually live for free, until the banks can repossess their properties byway of the foreclosure process."

Condo Vultures® is assembling a panel of experts on Sept. 14 in Downtown Miami to discuss the issue of strategic defaults and other foreclosure trends in a seminar entitled "Concerns Grow About Double Dip For South Florida Real Estate."

Contact: Peter Zalewski of Condo Vultures®,  800-750-0517 or by email at peter@condovultures.com.

Grubb & Ellis Healthcare REIT II Acquires Joplin Long-Term Acute Care Hospital in Missouri

JOPLIN, Mo. (Sept. 7, 2010) – Grubb & Ellis Healthcare REIT II, Inc. today announced that it has acquired Joplin Long-Term Acute Care Hospital (top left photo) , a single-story, 26,000-square-foot, Class A single-tenant medical facility in Joplin. The acquisition closed on Aug. 31.

Located at 2040 W. 32nd St., at the heart of the “Four State Area” where Missouri, Oklahoma, Arkansas and Kansas converge, Joplin Long-Term Acute Care Hospital is less than one mile from St. John’s Regional Medical Center (middle right photo), the region’s leading healthcare provider and a significant source of referral patients.

Joplin Long-Term Acute Care Hospital is the only non-governmental facility of its kind within 70 miles.

Built in 2007, Joplin Long-Term Acute Care Hospital is leased by Landmark Holdings of Missouri, LLC, which signed a long-term lease through 2025.

The Joplin facility is the second of a $42 million, four-property portfolio of regional long-term acute care hospitals being acquired by Grubb & Ellis Healthcare REIT II.

A similar facility in Cape Girardeau was acquired by the REIT on Aug.12 and two other facilities, one in Columbia and one in Athens, Ga., are currently under contract.

“Long-term acute care hospitals such as the four we are acquiring in Missouri and Georgia are attractive additions to the portfolio of Grubb & Ellis Healthcare REIT II,” said Danny Prosky, (lower left photo)  president and chief operating officer of the REIT.

“They enjoy very limited competition, have strong relationships with major healthcare systems, and provide stable long-term income that is immediately accretive and supportive of our investor distribution.”

Creative Health Capital, LLC represented the seller, White Oaks Real Estate Investments, LLC, an unaffiliated third party, in the transaction. Grubb & Ellis Healthcare REIT II financed the acquisition using cash proceeds received from its offering and $8 million in borrowings under its line of credit with Bank of America, N.A.

Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com

CORE Construction Services Starts Construction of Villa Grande Active Adult Community in Sarasota

SARASOTA, Fla. --- CORE Construction Services of Florida, LLC recently started construction of Villa Grande of Sarasota, an active adult apartment community located off Fruitville and Beneva Roads in Sarasota.

John Wiseman, (top right photo)  president of CORE Construction Services of Florida, LLC said construction of Villa Grande, with 108 apartment residences is now underway and will be completed and ready for move in by next spring.

Villa Grande LLC is the developer of Villa Grande and construction cost is approximately $13.5 million.

For more information, contact
John P. Wiseman, President CORE Construction Services of Florida, LLC, 6320 Tower Lane, Sarasota, FL 34240, 941-552-0240.
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Grubb & Ellis Represents California College Career & Technical Education Center in 164,330-SF Lease for New School

SACRAMENTO, CA (Sept. 7, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Sandy Sandoval, senior vice president, Investment Services, represented California College Career & Technical Education Center in a 164,330-square-foot lease of office and R&D space at 890 Embarcadero Drive in West Sacramento.

The non-profit public benefit corporation will use the space for a tuition-free charter high school.

“Throughout the economic downturn, education has remained among the top thriving industries nationally,” said Sandoval. “I am thrilled to have assisted California College Career & Technical Education Center in finding the perfect location for their school. This will be a significant boost to the local economy.”

The charter school is scheduled to open on Sept. 8 with approximately 250 9th and 10th grade students.

John Fondale of Cornish & Carey Commercial represented the landlord, Affymetrix Inc., in the transaction.

Christopher J. Stallings Joins Grubb & Ellis Landauer Appraisal & Valuation as Managing Director, Houston

HOUSTON, TX (Sept. 7, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading
real estate services and investment firm, today announced that Christopher J. Stallings MAI, CCIM, MRICS, has joined Grubb & Ellis Landauer Appraisal & Valuation as managing director, Houston, effective immediately.

 In this role, he will be responsible for developing and overseeing the company’s appraisal operations in Houston.

Stallings’ addition follows Grubb & Ellis’ announcement in June that it was launching a national appraisal business and reinvigorating the Landauer brand under the leadership of industry veterans Douglas W. Haney and Eduardo Alegre.

James S. Adams Joins Grubb & Ellis as Managing Director, Houston, TX

SANTA ANA, CA (Sept. 7, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that James S. Adams, (lower right photo)  one of the most respected real estate professionals in Houston, has joined the company as executive vice president, managing director of its Houston office.

Adams brings more than 25 years of commercial real estate experience to the managing director role. His responsibilities will include overseeing the company’s more than 50 local professionals, in addition to growing Grubb & Ellis’ presence throughout the Houston marketplace.

During much of his career, Adams has specialized in mortgage banking, closing more than $4 billion in debt and equity transactions across the U.S. He will use this experience to help establish and grow the company’s local mortgage banking practice.

Grubb & Ellis Adds Investment Team to East Bay Office in California

WALNUT CREEK, CA (Sept. 7, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Richard P. Bland and Raul Alcaraz have joined the company’s Investment Group as senior vice president and associate, respectively.

Bland and Alcaraz join from CB Richard Ellis and will be part of the company’s Private Capital Markets group.

“Rick and Raul’s addition brings tremendous strength to our medical, office and industrial investment capabilities in the East Bay,” said Ed Del Beccaro, (lower left photo)  managing director, Walnut Creek.

“Rick is highly regarded throughout the market, having developed a reputation for professionalism and a dedication to client service over his 28-year career. We’re excited that they are now part of our team.”

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

Grubb & Ellis Company Declares Preferred Stock Dividend

SANTA ANA, CA (Sept.7, 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 September 17, 2010. The dividend is for the quarterly period from July 1, 2010 and is payable on September 30, 2010.

Contact: Janice McDill, Phone: 312.698.6707, Email: janice.mcdill@grubb-ellis.com

Plaza Advisors Announces the Sale of Country Walk Plaza in Miami, FL

MIAMI, FL--Plaza Advisors is pleased to announce the sale of Country Walk Plaza in Miami, Florida.

This exceptional shopping center is situated at the intersection of SW 152nd Street and SW 137th Avenue in unincorporated Miami-Dade County.

Country Walk Plaza totals 100,229 square feet of gross leasable area and is anchored by Publix and CVS Pharmacy. Country Walk Plaza was built in 1985 and renovated in 2006 and 2008. The property was 96% leased at the time of sale.

Plaza Advisors represented the seller in the transaction and co-managing partners Anthony Blanco (middle right photo) and Jim Michalak, (lower left photo)  together with Senior Financial Analyst, Lenard Williams were involved in the engagement.

The seller and buyer were entities affiliated with Saglo Development and Equity One, Inc., respectively. The sale of Country Walk Plaza marks the second Publix-anchored center in Miami sold by Plaza Advisors in 2010.

Contact:
Miami Office, Anthony Blanco, 305-629-3606, FAX: mailto:Anthony.blanco@plazadvisors.com
Tampa Office, Jim Michalak, 813-837-1300, FAX: 813-831-2627 Jim.michalak@plazadvisors.com

Grubb & Ellis Forms Strategic Alliance with Kettler Inc. to Offer Residential Property Management Services Nationwide

SANTA ANA, CA (Sept. 7, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has established a strategic alliance with Kettler Inc., one of the Mid-Atlantic’s largest real estate and property management firms, to provide residential property management services nationwide.

“We are excited to expand our best-in-class property management services to include the multifamily residential space,” said Jack Van Berkel (lower left photo), executive vice president and chief operating officer of Grubb & Ellis and president, Real Estate Services.

 “Many of our clients have told us that they are looking for a service provider that can provide solutions across all asset types and throughout the lifecycle of their ownership.

"Kettler’s residential property management capabilities combined with Grubb & Ellis’ comprehensive real estate services platform will enable us to lease, manage and dispose of all asset classes on behalf of our clients.”

Van Berkel added that the alliance will play a significant role in the company’s growing Financial Services Asset Management practice, which provides full service integrated solutions, including leasing, receivership, management and disposition to financial institutions and special servicers with distressed assets.

“We are thrilled that this relationship with Grubb & Ellis will allow for Kettler to enter new markets and to provide residential management services on a national level,” said Cindy Clare (top right photo), president of Kettler Management Inc. “We are confident that it will prove to be beneficial to both firms.”

The alliance, which will operate as Grubb & Ellis Kettler Residential Management, will benefit clients by allowing the firms to work together seamlessly when a property owner requires both residential and commercial property management services.

In these situations, Grubb & Ellis will coordinate marketing efforts, streamline suppliers and interconnect technology systems, and in markets where Kettler currently does not have a presence, the alliance will provide Kettler an opportunity to expand its residential management portfolio.

Contacts:

Janice McDillPhone: 312.696.6707Email: janice.mcdill@grubb-ellis.com
Karen Kossow703.226.6040 kkossow@kettler.com

Lotus Arts de Vivre to be Featured in Minor Group’s Collection of Luxury Residences in Thailand

BANGKOK, THAILAND, Sept. 10, 2010 – Minor International PCL is pleased to announce a creative partnership with the renowned Lotus Arts de Vivre to accent its Thailand portfolio of luxury properties with extraordinary Thai-inspired objets d’art.

The distinctive, hand-made pieces will be incorporated into the interiors of the new show suite at The Residences at The St. Regis Bangkok (middle right photo), The Estates Samui (lower left photo), and The Residences at Four Seasons Chiang Mai .(above centered photo)

“The Lotus Arts de Vivre collection enhances a distinctive lifestyle that we’ve embraced throughout the design of our residences – a lifestyle of tradition, elegance and luxury,” said William “Bill” E. Heinecke, chairman, CEO and founder of Minor International PCL. “We’re thrilled to feature the unique pieces in these homes.”

Founded and managed by the von Bueren family and based in Bangkok, Lotus Arts de Vivre is renowned for creating extraordinary, one-of-a-kind extraordinary objets d’art inspired by the unique beauty and culture of Southeast Asia.

The creations include distinctive jewelry, home accents, and accessories that are handcrafted by skilled artists and craftspeople living in India, Nepal, and Indonesia. The pieces incorporate beautiful and sumptuous materials from the region, such as rubies, Basra pearls, gold, jade, emeralds, Liana Wood, red lacquer and others.

“We are delighted to collaborate with Minor International to present our collection throughout their beautiful portfolio of properties,” said company president Rolf von Bueren. “Our pieces will blend beautifully with these residences because they are distinct, unique, yet infused with our regional culture and beauty.”

For media inquiries, contact Hwee Peng Yeo, Glodow Nead Communications, at hweepeng@glodownead.com.

Thomas D. Wood Brokers Loans Totaling $4.53M for 3 Firms

ORLANDO, FL— Sept. 7, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $4,530,000 for AT&T Wireless, Flamingo West Apartments and Mims Warehouse.

Doug Rozzell, (top right photo)  Company Principal, secured $1,400,000 in construction financing for AT&T Wireless on August 10, 2010, through Thomas D. Wood and Company’s relationship with a regional bank.

 The construction loan is six months, with an interest rate of LIBOR + 325 basis points, with a floor rate of 4%. The construction loan will be followed by a 60-month mini-permanent loan.

The loan-to-value is 70% and loan-to-cost is 85%. The 3,545 square-foot single-tenant retail building was originally built in 1996 for KFC and loan proceeds were used to renovate into a AT&T Wireless store which will occupy the building for an initial term of 10 years. The property is located at 534 River Highway, Mooresville, North Carolina.

John Worrell, (middle left photo) Company Assistant Vice President, secured $2,350,000 in financing for the Flamingo West Apartments on August 11, 2010, through Thomas D. Wood and Company’s correspondent relationship with Security Mutual Life Insurance Company of New York.

 The borrower refinanced the former CMBS loan into permanent loan with a term of 10 years, based on a 25-year amortization and an interest rate of 7.25%. The loan-to-value is 70%. The 72-unit multi-family complex was built in 1972, and is located at 3707 W. Idlewild Circle, Tampa, Florida.

Worrell also secured $780,000 in permanent financing for the Mims Warehouse on August 19, 2010, through Thomas D. Wood and Company’s relationship with a local credit union.

The loan has a term of three years, based on a 25-year amortization and an interest rate of 6.5%. The loan-to-value is 70%. The 18,800 square-foot warehouse is home to major tenant Fuel Tech, Inc. Mims Warehouse is located at 2680 Highway 1, Mims, Florida.

For further information, please contact:
Doug Rozzell (407) 937-0470 drozzell@tdwood.com
John Worrell (407) 937-0470 jworrell@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com

Mid-America Apartment Communities, Inc. Announces Dallas Acquisition - The Venue at Stonebridge Ranch

MEMPHIS, TN/PRNewswire/ -- Mid-America Apartment Communities, Inc. (NYSE:MAA) has completed the acquisition of The Venue at Stonebridge Ranch, a high-quality 250-unit apartment community located in the Dallas, Texas MSA.

The Venue at Stonebridge Ranch is located in the largest master planned community in North Texas in the Dallas suburb of McKinney.

 The community includes a gated entrance, resort-style pool with area WiFi and garages. The apartment homes feature oversized garden bathtubs, walk in showers, walk in closets and double vanity sinks in select units.

MAA acquired the community, which was developed in 2000, with plans to contribute it to Mid-America Multifamily Fund II, LLC, MAA's joint venture with private capital.

Commenting on the announcement, Al Campbell, EVP and CFO said, "We are excited to add another community in the McKinney suburb to our Dallas portfolio. We believe this community provides an attractive opportunity for Fund II and allows us to further utilize the combination of the joint venture structure with our operating platform to create value for our shareholders."

The acquisition was funded by borrowings under existing credit facilities and common stock issuances through MAA's at-the-market program.

CONTACT: Investor Relations of Mid-America Apartment Communities,
+1-901-682-6600, or investor.relations@maac.net
Web Site: http://www.maac.net/

Grubb & Ellis Commercial Florida Negotiates Long-term Lease for new Primetime Sports Pub & Grill in Downtown Orlando

ORLANDO, FL -- Grubb & Ellis Commercial Florida, associated with 130 Grubb & Ellis offices worldwide, recently completed a new long-term lease agreement for Primetime Sports Pub & Grill at the 100 E. Pine St. building in downtown Orlando.

The space is the former home of The Clubhouse, and Primetime will be filling the void that was created with the closing of The Clubhouse by offering the only true sports restaurant and bar atmosphere in downtown Orlando.

The restaurant and bar has a goal of opening for business very soon. “This is something we’ve been working on since early summer, and we are on pace to be open for football season in September,” adds Leo Bitetto, a principal of Primetime.

Aaron Gray, (middle right photo)  associate at Grubb & Ellis Commercial Florida, negotiated the 65-month lease on behalf of the new tenant who leased 4,083 square feet of retail space on the ground floor of the six-story building near the intersection of S. Magnolia Ave.

Robert Kellogg,  (lower left photo) CCIM, vice president of Office Services at Grubb & Ellis Commercial Florida participated in the transaction on behalf of the landlord, 100 East Pine Street LLC of Orlando.

Contact:
Aaron Gray, 407-481-5397, agray@commercialfl.com
Jeff Sweeney, 407-481-5387, jsweeney@commercialfl.com
Larry Vershel 407-644-4142
http://www.commercialfl.com/