SOUTHFIELD, Mich., February 17, 2008 — Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it represented Great Lakes Electronics Corporation, a leading national electronics recycler, in the purchase of two industrial buildings totaling 95,922 square feet of space at 22100 & 22200 Sherwood Ave. in Warren.
Daniel Canvasser, CCIM, senior associate, Office Group, and Mike Davidson, senior vice president, Industrial Group, facilitated the transaction.
“These facilities provide great functionality for our business,” said Nathan Zack, president of Great Lakes Electronics. “The number of docks, the large outdoor open area and the configuration of the buildings enhance our efficiency, meaning we can better satisfy increasing client demand.”
The transaction represents a relocation for Great Lakes Electronics Corporation, which has outgrown its facility in Detroit. The new location also supports the processing of scrap metal, a new business line for the company’s Detroit-area capabilities.
“Great Lakes Electronics is ahead of the curve as an increasing number of corporations seek to securely and responsibly recycle their electronic equipment,” said Canvasser. “We’re proud to partner with this growing company in its real estate strategy.”
Great Lakes Electronics operates five electronics de-manufacturing and recycling facilities. The rapidly growing company was founded by Zack in 2000 and now has more than 120 employees and over 160,000 square feet of facilities with 6 acres of outdoor scrap yard. Great Lakes Electronics offers nationwide collection.
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.