Rumor has it that Grubb & Ellis has officially taken over the leasing assignment at Corporate Center. Mike Wilson has been awarded (not sure if awarded is the appropriate word) the assignment.
If you recall, Deanna Lobinsky and her team pulled out of their leasing representation agreement with Corporate Center in September, along with all of their other Cabot assignments.
Talk of the sale of Grubb & Ellis to Colony Capital LLC, a Los Angeles-based hedge fund manager, circled on Friday.
Grubb & Ellis Co. (NYSE:GBE) announced in March that is it had hired San Francisco-based investment banking firm JMP Securities to explore strategic alternatives for the company, including a potential sale or merger, provides the latest sign of changes rippling through the CRE brokerage services market.
Grubb then struck a potentially lifesaving $18 million financing deal in late March with Colony Capital LLC, a Los Angeles-based hedge fund manager.
That deal gave Colony—led by billionaire real estate investor Tom Barrack—a 60-day exclusivity period to consider a larger strategic transaction with Grubb, whose stock has been battered by the commercial real estate downturn as well as an ill-fated combination with Santa Ana-based NNN Realty Advisors in 2007.
The exclusivity period ended in May. As a result, Grubb actively engaged in discussions with additional parties, while continuing discussions with Colony.
The SFOBA is a network of Professional Office Leasing Brokers in South Florida. Membership is by invitation only – landlord and tenant representatives are included.
Email: admin@sfoba.com
Email: admin@sfoba.com