Grubb & Ellis Company Awarded Property Management of Red Mountain Retail Group’s 4.8 Million SF Portfolio
SANTA ANA, CA – January 12, 2009 – (RealEstateRama) — Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Red Mountain Retail Group Inc., one of the most active developers and redevelopers of retail real estate throughout the Southwest, has selected the company to provide comprehensive property management and accounting services for its 4.8-million-square-foot portfolio.
“Grubb & Ellis is very pleased to have been selected as Red Mountain Retail Group’s property management partner,” said Dylan Taylor, president of Global Client Services. “This is a significant assignment, and we look forward to working with Red Mountain to offer their tenants the best retail environment in the industry.”
Founded in 1999, Red Mountain is headquartered in Santa Ana. The company’s portfolio is comprised of an assortment of big box and neighborhood retail centers as well as mixed-use assets, which are primarily located in California and Arizona. The portfolio also includes 11 properties spread across Utah, Montana, New Mexico, Tennessee, Kansas and Wisconsin.
The Grubb & Ellis property management team for the Red Mountain Retail Group portfolio is led by Hans Mumper, senior vice president and director of management services, based in the company’s downtown Los Angeles office.
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 www.grubb-ellis.com.
