Grubb & Ellis Realty Investors Sells Reserve at Maitland in Maitland, Fla.
June 19 2008 - 1:46PM
PR Newswire (US)
SANTA ANA, Calif., June 19 /PRNewswire-FirstCall/ -- Grubb &
Ellis Realty Investors, LLC today announced the disposition of
Reserve at Maitland in the northern Orlando-suburb of Maitland,
Fla., on behalf of tenant-in-common investors. This is the 53rd
securitized 1031 TIC exchange program taken full-cycle by Grubb
& Ellis Realty Investors, an unrivaled industry record. Located
at 30, 65, and 70 Keller Road, Reserve at Maitland is comprised of
three single-story, Class A office buildings that offer six tenant
spaces with a combined rentable area of approximately 197,000
square feet. Situated on approximately 9.5 acres, the property was
completed in 2001 and offers a ratio of five parking spaces per
1,000 square feet for a total of 943. Reserve at Maitland,
originally purchased in August 2004, was sold to Flagler
Development Group, represented by Daniel Finkle from Holliday
Fenoglio Fowler, L.P. About Grubb & Ellis Realty Investors
Grubb & Ellis Realty Investors, LLC is the real estate
investment and asset management subsidiary of Grubb & Ellis
Company (NYSE:GBE), a leading real estate services and investment
firm. Grubb & Ellis Realty Investors and affiliates manage a
growing portfolio of assets valued in excess of $6.1 billion
located throughout 30 states. One of the nation's most active
buyers and sellers of commercial real estate, Grubb & Ellis
Realty Investors has completed acquisition and disposition volume
totaling approximately $10.4 billion on behalf of program investors
since its founding in 1998; more than 70 percent of this volume has
been transacted since Jan.1, 2005. Grubb & Ellis Realty
Investors and affiliates are currently buying and selling
properties throughout the United States, offering a full range of
commercial real estate investment programs, including
tenant-in-common (TIC) programs for investors structuring
tax-deferred (like-kind) exchanges under Section 1031 of the
Internal Revenue Code, non-traded public real estate investment
trusts (REITs), multi-member limited liability companies (LLCs) and
institutional investments. Through the Grubb & Ellis Wealth
Management program, Grubb & Ellis Realty Investors also offers
high net worth investors a comprehensive program to build or expand
their commercial real estate portfolio, whether their investment
objectives are 1031 exchange driven or not. DATASOURCE: Grubb &
Ellis Realty Investors, LLC CONTACT: Julia McCartney of Grubb &
Ellis Realty Investors, LLC, +1-714-667-8252, ext. 230, Web site:
http://www.grubb-ellis.com/ Company News On-Call:
http://www.prnewswire.com/comp/136726.html
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