SANTA ANA, Calif., Oct. 7 /PRNewswire-FirstCall/ -- Grubb & Ellis Company , a leading real estate services and investment firm, today announced that Ingersoll-Rand Company Limited has selected the Company as its global real estate services provider. Ingersoll Rand conducted a competitive review process before selecting Grubb & Ellis as its partner.
"Over the past three years, Grubb & Ellis has been an important partner as we've managed our real estate portfolio to meet the changing needs of our business," said Mike Dawson, Director Enterprise Real Estate. "We believe that Grubb & Ellis' extensive experience and knowledge of our business goals will help us manage what is a significantly larger real estate portfolio following our acquisition of Trane in the second quarter of 2008."
As part of the expanded relationship, Grubb & Ellis will provide lease administration, strategic consulting and transaction management for more than 1,000 properties totaling 46 million square feet of industrial, manufacturing and office sites located throughout North & South America, Europe, Middle East and Asia Pacific. The agreement extends Grubb & Ellis' relationship with Ingersoll Rand through 2013.
Dylan Taylor, President of Grubb & Ellis' Global Client Services Group, said, "We are very pleased to have been recognized by Ingersoll Rand as the leader in providing integrated corporate real estate services on a global scale. We look forward to helping them maximize the value of what is a significantly larger real estate portfolio post their merger with Trane."
The relationship is being led a Grubb & Ellis team that includes David Susoreny, Managing Director, Noah Shlaes, Managing Director, Strategic Consulting Group and Elizabeth Patrus, Lease Administrator.
About Grubb & Ellis
Grubb & Ellis Company 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 June 30, 2008, more than $3.6 billion in investor equity has been raised for these investment programs. The Company and its subsidiaries currently manage a growing portfolio of more than 218 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 http://www.grubb-ellis.com/.
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