Grubb & Ellis Landauer Valuation Advisory Services Begins 2011 With National Presence and Offices in 24 Key Markets

SANTA ANA, Calif., Jan. 10, 2011 /PRNewswire/ -- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Grubb & Ellis Landauer Valuation Advisory Services begins 2011 with 24 offices in 16 states and the District of Columbia.  The business, which was launched in mid-2010, will ultimately grow to include hundreds of appraisers with a presence in every key market throughout the United States.

During the fourth quarter of 2010, Grubb & Ellis Landauer opened offices in Washington, D.C., Baltimore, Miami and Tampa, Fla., Birmingham, Ala., Philadelphia, Chicago, Minneapolis, Minn., Bentonville and Fayetteville, Ark., Portland, Ore. and San Diego.  The firm also completed its regional management structure with the hiring of veteran appraisal professional Lynda Gallagher as senior managing director from CB Richard Ellis to direct the company's Midwest Region.

In addition to the markets listed above, Grubb & Ellis Landauer, which is run by industry veterans Douglas Haney, president, and Eduardo Alegre, executive managing director, is fully operational and staffed with experienced appraisal professionals in New York; Boston; Orlando, Fla.; Atlanta; San Antonio, Dallas and Houston, Texas; Las Vegas; Phoenix; Los Angeles, Orange County, Calif., and Seattle.  

"Property valuation and appraisal has taken on a more important role in real estate than ever before, and I couldn't be more pleased that we've been able to grow our Landauer business so quickly to meet the needs of our clients," said Jack Van Berkel, chief operating officer of Grubb & Ellis and president, Real Estate Services.  "Despite signs of stabilization in the economy, there is still a great deal of uncertainty, and it's important we are able to offer advisory services our clients can trust."

The establishment of Grubb & Ellis Landauer Valuation Advisory Services in the second half of 2010 is consistent with the company's strategy of expanding into complementary businesses that are necessary to provide comprehensive commercial real estate solutions to its growing client base.  

"Since we opened for business in September, we've seen an incredible demand for experienced real estate appraisers who have a deep understanding of local commercial real estate dynamics as well as the challenges presented by the current marketplace," said Haney.  "As we expand into other key markets, our focus continues to be on attracting experienced appraiser professionals who share our commitment to meaningful analyses and best-in-class solutions for real estate owners and financial institutions."

Grubb & Ellis Landauer provides a full range of services, including single asset and portfolio valuations, market analysis and feasibility studies, lease and cost analyses, debt analysis and valuation, and plant, machinery and equipment valuations for all types of commercial real estate, including office, industrial, retail, multifamily, vacant land, hotels and resorts, as well as special use facilities.  To learn more about Grubb & Ellis Landauer's capabilities, visit www.grubb-ellis.com/Landauer.  

The company is looking for experienced appraisal professionals throughout the country.  To learn about career opportunities and apply for a position, visit www.grubb-ellis.com/joinlandauer.

About Grubb & Ellis Company

Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 6,000 professionals in more than 100 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm's transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment subsidiaries, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), mutual funds and other real estate investment funds. For more information, visit www.grubb-ellis.com.

SOURCE Grubb & Ellis Company

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