Grubb & Ellis Company Represents ENGlobal Expansions in Houston and Beaumont
SANTA ANA, CA – February 10, 2009 – (RealEstateRama) — Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Robert Bantly and Scott Fikes with the Houston office negotiated two leases totaling 133,326 square feet on behalf of ENGlobal Corporation (NASDAQ: ENG), a leading provider of engineering and professional services to the midstream and downstream sectors of the energy industry. Terms of the transactions were not disclosed.
The first lease was for a new 52,518-square-foot engineering and administration building located at 3155 Executive Blvd. in Beaumont’s Executive Business Plaza. The facility, which was built to suit by Clay Development and Construction, is on the same site and replaces the building destroyed by Hurricane Rita in September 2005. The company, which is currently in the process of moving into the new building, now occupies a total of 134,274 square feet in Beaumont.
The second lease was for 80,808 square feet of fabrication space to support ENGlobal’s automation segment. The new industrial space is located at 225 Portwall St. in Portwall Distribution Center II and represents an expansion for the firm, which is moving from 62,641 square feet at a nearby location. The company’s automation group is slated to relocate to its new space in March 2009. The property owner, The Carson Companies, was represented internally by Dan Zoch.
“We are pleased to announce the expansions of our engineering and automation locations,” said ENGlobal’s Chairman and Chief Executive Officer William A. Coskey, P.E. “The moves are necessary to support the company’s growth and its need for improved facilities. The Beaumont location illustrates our commitment to employees and clients in and around the Golden Triangle area, while our Houston-based automation group required a larger and more efficient fabrication facility due to increased backlog.”
Bantly and Fikes have represented ENGlobal since 2006. Since that time, Grubb & Ellis has completed numerous assignments for the company around the country.
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.
