Grubb & Ellis, a name you know
One of the most recognizable names in the commercial real estate industry, Grubb & Ellis has been around for fifty years and in recent years has merged with other companies and moved their headquarters to Santa Ana, California.
Grubb for sale
Grubb & Ellis is reportedly now for sale or up for a merger, due in part to market conditions and unsolicited inquiries which has led them to hire a consultant to advise them on their alternatives, according to a recent SEC filing.
Grubb lost $66.8M last year, putting the company in need for “greater capital to continue to reinvest and grow over the next few years,” Grubb spokeswoman Janice McDill said in a comment to the OC Register.
Because of the potential sale or merger, its board opted to defer paying its CEO a bonus.