After Regaining Florida Office Spaces, Grubb & Ellis Exploring Possible Company Sale
After reacquiring its Tampa and Orlando office spaces, Grubb and Ellis is looking into potential strategic alternatives for the company’s future, including the sale of the entire company.
In November 2010, the commercial real estate advisory firm Grubb & Ellis reacquired the Tampa and Orlando office spaces, which had previously been changed/converted to independent affiliates from [...]
After reacquiring its Tampa and Orlando office spaces, Grubb and Ellis is looking into potential strategic alternatives for the company’s future, including the sale of the entire company.
In November 2010, the commercial real estate advisory firm Grubb & Ellis reacquired the Tampa and Orlando office spaces, which had previously been changed/converted to independent affiliates from more corporate entities back in 2004. According to www.bizjournals.com, local Tampa Bay executives informed the Tampa Bay Business Journal that they were intent on consolidating and growing the southeast market, and are continuing to research and consider options.
As such, Grubb & Ellis Co. has recently engaged San Francisco-based investment bank JMP Securities to begin the process of looking into strategic alternatives that include the company’s potential sale. According to CoStar Group, the Santa Ana, CA-based firm (NYSE: GBE) has recently received some inquiries that were unsolicited and hence, executives have opted to enter into a more strategic, formal process that will better enable them to explore alternatives – including a merger or sale,
Source: www.bizjournals.com
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