Grubb & Ellis|Commercial Florida negotiates $2 Million Sale of Semoran Park Office Building in Orlando

Grubb & EllisCommercial Florida negotiates $2 Million Sale of Semoran Park Office Building in Orlando

ORLANDO, Fla. - Grubb & EllisCommercial Florida recently negotiated the $2,000,000.00 sale price for Semoran Park, a professional office building at 1277 N. Semoran Blvd. (SR 436) in Orlando.

Jay Dixon, vice president and associate Jerry Thornbury in the Office Group at Grubb & EllisCommercial Florida, brokered the transaction representing the buyer, Orlando-based Orange Crown Holdings, LLC and the seller, Semoran Park Condominiums, LLC of Orlando.
Semoran Park, with 19,136 total square feet of Class A office space, was built in 2000 and was 72.6 percent leased at the time of sale. Major tenants include Semoran Park Family Physicians and Semoran Law Center.

Contact:
Jay Dixon, 407-481-5832, jdixon@commercialfl.com
Jerry Thornbury 407-481-5385, Jthornbury@commercialfl.com
Jeff Sweeney, 407-481-5387, Jsweeney@commercialfl.com
Larry Vershel 407-644-4142

About Grubb & EllisCommercial Florida:
Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 40 brokers divided among its Orlando, Melbourne and Tampa offices to serve the entire mid-Florida marketplace.

About Grubb & Ellis:
Named to The Global Outsourcing 100™ in 2009 by the International Association of Outsourcing Professionals™, 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 130 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), tenant-in-common (TIC) investments suitable for tax-deferred 1031 exchanges, mutual funds and other real estate investment funds. For more information, visit www.grubb-ellis.com.

Grubb & Ellis|Commercial Florida Negotiates Renewal Lease agreement with Biagio’s II Pizza in the Cory Lake Isles Professional Center in New Tampa

Grubb & EllisCommercial Florida Negotiates Renewal Lease agreement with Biagio’s II Pizza in the Cory Lake Isles Professional Center in New Tampa

TAMPA, Fla. - Grubb & EllisCommercial Florida, associated with 130 offices worldwide, recently completed a long-term lease renewal of 1,560 square feet at 10359 Cross Creek Blvd. in the Cory Lakes Isles Professional Center in New Tampa.

Richard Andretta, SIOR, vice president in the firm’s Office Group and associate
Rob Turner negotiated the renewal representing the landlord. Biagio’s II Pizza is the tenant.

Contact:
Richard Andretta, SIOR 813-639-1111 (255)
Rob Turner, 813-639-1111 (235)
Jeffrey Sweeney, SIOR President 407-481-5387
Larry Vershel Communications 407-644-4142

About Grubb & EllisCommercial Florida:
Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 30 brokers divided among its Tampa, Orlando and Melbourne offices which serve the entire mid-Florida marketplace.

About Grubb & Ellis:
Named to The Global Outsourcing 100™ in 2009 by the International Association of Outsourcing Professionals™, 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 130 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), tenant-in-common (TIC) investments suitable for tax-deferred 1031 exchanges, mutual funds and other real estate investment funds. For more information, visit www.grubb-ellis.com.

Grubb & Ellis|Commercial Florida Negotiates Renewal Lease for 18,665 Square Feet of Office Space in The Horizon Building in Tampa

Grubb & EllisCommercial Florida Negotiates Renewal Lease for 18,665 Square Feet of Office Space in The Horizon Building in Tampa

TAMPA, Fla. - Grubb & EllisCommercial Florida, associated with 130 offices worldwide, recently negotiated a renewal lease of 18,665 square feet of professional office space in the The Horizon Building located at 4511 N. Himes Ave. in Tampa.

Richard Andretta, SIOR, vice president in the firm’s Office Group and associate Rob Turner negotiated the transaction representing the tenant, Atlanta-based Crawford & Company, the world's largest independent provider of claims management solutions.

Highwoods/Florida is the landlord at the building.

About Grubb & EllisCommercial Florida:
Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 30 brokers divided among its Tampa, Orlando and Melbourne offices which serve the entire mid-Florida marketplace.

About Grubb & Ellis:
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded real estate investment trusts (REITs) and real estate investment funds. As of March 31, 2008, more than $3.4 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 218 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit www.grubb-ellis.com.

Contact:
Grubb & EllisCommercial Florida, 3030 N. Rocky Point Drive W., Tampa, FL 33609, www.commercialfl.com
Richard Andretta 813-639-1111 Ext 255
Rob Turner 813-639-1111 Ext 235
Jeffrey Sweeney 407-481-5387
Larry Vershel 407-644-4142

Grubb & Ellis|Commercial Florida negotiates sublease renewal agreement for 12,000 square feet of industrial space in Tampa

Grubb & EllisCommercial Florida negotiates sublease renewal agreement for 12,000 square feet of industrial space in Tampa

TAMPA, Fla. - Grubb & EllisCommercial Florida, associated with 130 Grubb & Ellis offices worldwide, recently negotiated a long-term sublease renewal of 12,000 square feet in the industrial center located at 9302 Florida Palm Drive in Tampa.

Jan Boltres, CCIM and Michael Scott, principals and senior vice presidents at Grubb & EllisCommercial Florida, represented the sublessor, Qwest Communications Company of Denver, in the negotiations with the tenant, Tampa-based Office Pavillion of South Florida.

About Grubb & EllisCommercial Florida:
Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 30 brokers divided among its Tampa, Orlando and Melbourne offices which serve the entire mid-Florida marketplace.

About Grubb & Ellis:
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded real estate investment trusts (REITs) and real estate investment funds. As of March 31, 2008, more than $3.4 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 218 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit http://www.grubb-ellis.com/.

For Information Please Contact
Grubb & EllisCommercial Florida, 3030 N. Rocky Point Drive W., Tampa, FL 33609, http://www.commercialfl.com/

Jan Boltres CCIM 813-639-1111 ex270
Michael Scott 813-639-1111 ex275
Jeffrey Sweeney 407-481-5387
Larry Vershel Communications 407-644-4142

Grubb & Ellis|Commercial Florida Negotiates Renewal lease at Brandon Medical Plaza

Grubb & EllisCommercial Florida Negotiates Renewal lease at Brandon Medical Plaza

TAMPA, Fla. - Grubb & EllisCommercial Florida, associated with 130 offices worldwide, recently negotiated a renewal agreement for 2,200 square feet of medical office space in the Brandon Medical Plaza at 427 S. Parsons Ave. in Brandon.

Richard Andretta, SIOR, vice president in the firm’s Office Group and associate Rob Turner negotiated the transaction representing the landlord, G&E Healthcare REIT Medical Portfolio based in South Coast Metro, Calif.

Local practitioner Dr. Larry Fishman is the tenant.

About Grubb & EllisCommercial Florida

Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 30 brokers divided among its Tampa, Orlando and Melbourne offices which serve the entire mid-Florida marketplace.

About Grubb & Ellis,

Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded real estate investment trusts (REITs) and real estate investment funds. As of March 31, 2008, more than $3.4 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 218 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit http://www.grubb-ellis.com/.

For information contact:
Richard Andretta,813-639-1111, Ext.255, 3030 N. Rocky Point Drive W.,Tampa, FL 33609, http://www.commercialfl.com/

Rob Turner, 813-639-1111, Ext. 235, 3030 N. Rocky Point Drive W.,Tampa, FL 33609, http://www.commercialfl.com/

Jeffrey Sweeney, 407-481-5387

Larry Vershel, 407-644-4142

Condominium Owners, Investors Should be Wary of Recent Changes to Florida Condominium Law, Says Leading Florida Broker

Condominium Owners, Investors Should be Wary of Recent Changes to Florida Condominium Law, Says Leading Florida Broker

TAMPA, Fla. - Condominium owners and potential investors should pay particular attention to recent changes in Florida’s condominium law, as new options open doors to higher values in an otherwise bottoming market.

Kelly Oliver, investment advisor and multifamily property specialist at Grubb & EllisCommercial Florida, said two of the new changes can offer particularly beneficial opportunities for developers.

“Many condominium communities could fall under what is generally called ‘fractured condo’ status,” Oliver said.

A ‘fractured condo’ occurs when a rental apartment community is converted to condominium status, but too many units remain unsold.

“That’s happened all over Florida,” Oliver said. Recent changes in the condominium law allow 80 percent of unit owners in a community to restructure condominiums as fee-simple rental apartments, which could offer higher value and tax advantages too, Oliver explained.

But fractured condo status has several pitfalls, Oliver warned.

“Unit owners should be aware of all the requirements,” Oliver said. Control over the condominium association and qualification of owners as ‘developers’ under Florida law are crucial to reconverting condominiums into rental apartments, she explained.

“In some cases, it is advantageous to consider conversions to a rental community, but the process is complex and must be followed carefully so as not to jeopardize the interests of the unit owners,” Oliver said.

About Grubb & Ellis:
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded real estate investment trusts (REITs) and real estate investment funds. As of September 30, 2008, more than $3.8 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 225 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit http://www.grubb-ellis.com/.

For more information, contact:
Kelly Oliver, Grubb & EllisCommercial Florida, 813-639-1111 Ext 262
Jeffrey Sweeney, Grubb & EllisCommercial Florida, 407-481-5387
Larry Vershel, Larry Vershel Communications, 407-644-4142

Grubb & Ellis|Commercial Florida Vice President David Calcanis named ONE OF THE top TWO land brokers in 2008

Grubb & EllisCommercial Florida Vice President David Calcanis named ONE OF THE top TWO land brokers in 2008

ORLANDO, Fla. – David Calcanis, vice president of land services at Grubb & EllisCommercial Florida in Orlando, which is associated with 130 Grubb & Ellis offices worldwide, was recently named as one of the top two land sales brokers in 2008 at the “Best of the Best” awards banquet sponsored by the NAIOP’s Central Florida chapter.

Calcanis, who has been with Grubb & EllisCommercial Florida for five years, sold properties valued at more than $25 million last year.

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate, comprising 18,000 members in North America. For more information, visit naiop.org.

For more information, contact:
David Calcanis, Vice President Land Serivces, Grubb & EllisCommercial Florida, 407-481-5247
Jeff Sweeney, Grubb & EllisCommercial Florida, 407-481-5378, jsweeney@commercialfl.com
Larry Vershel, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Grubb & EllisCommercial Florida:
Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 40 brokers divided among its Orlando, Melbourne and Tampa offices to serve the entire mid-Florida marketplace.

About Grubb & Ellis:
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded real estate investment trusts (REITs) and real estate investment funds. As of Sept. 30, 2008, more than $3.8 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 225 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit http://www.grubb-ellis.com/.

Grubb and Ellis Commercial Florida negotiates new long term lease of 50,000 square foot industrial facility in Lakeland

Grubb & Ellis Commercial Florida negotiates new long term lease of 50,000 square foot industrial facility in Lakeland

TAMPA, Fla. - Grubb & Ellis Commercial Florida, associated with 200 Grubb & Ellis offices worldwide, recently negotiated a long-term lease of a 50,000 square foot industrial facility at 4920 S. Frontage Rd. in Lakeland.

Jan Boltres, CCIM and Mike Scott, principals and senior vice presidents at Grubb & Ellis Commercial Florida, negotiated the lease agreement representing the landlord, RS Land Development, Inc., based in Rancho Santa Fe, Calif.

The new tenant is Lakeland-based RINCAT, LLC.

About Grubb & Ellis Commercial Florida

Grubb & Ellis Commercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & Ellis Commercial Florida has 30 brokers divided among its Tampa, Orlando and Melbourne offices which serve the entire mid-Florida marketplace.

About Grubb & Ellis

Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded real estate investment trusts (REITs) and real estate investment funds. As of March 31, 2008, more than $3.4 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 218 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft

Contacts:

Jan Boltres, CCIM,Grubb & Ellis Commercial Florida - 813-639-1111 ext 270

Michael Scott, Grubb & Ellis Commercial Florida - 813-639-1111 ext 275

Larry Vershel Communications, 407-644-4142