SOUTHFIELD, Mich., January 28, 2009 – Grubb & Ellis Company (NYSE:GBE), a leading real estate services and investment firm, today announced that it represented C & Son LLC in the long-term lease of 51400 Bellestri Court in Shelby Township to Models & Tools Inc., a defense and commercial aerospace tooling firm.
Jack Coury, SIOR, senior vice president, Industrial Group, and Giancarlo Pinterpe, senior vice president, Industrial Group, represented the landlord.
“This is a great example of a non-automotive manufacturing company taking advantage of Michigan’s excellent labor pool and inventory of available manufacturing facilities,” said Pinterpe. “The building previously served as an aerospace manufacturing facility, making it a ‘plug-and-play’ opportunity for Models & Tools.”
The property, a newer, fully air-conditioned manufacturing building, features high clearance height up to 36 feet and eight cranes. Pinterpe and Coury leased the building in less than 120 days after acquiring the listing.
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.
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