Pete Bolton to Head Grubb & Ellis-Owned Office in Phoenix

Commercial real estate veteran brings vast relationships, market knowledge

Jan 20, 2010, 10:15 ET from Grubb & Ellis Company

SANTA ANA, Calif., Jan. 20 /PRNewswire-FirstCall/ -- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Pete Bolton, one of the most successful and best known leaders in the Phoenix commercial real estate market, has rejoined the company as executive vice president, managing director.  Bolton's hire follows Grubb & Ellis' announcement earlier this month that it will open a company-owned office to serve the Phoenix market.

"Grubb & Ellis has been an integral part of the Phoenix commercial real estate market for four decades.  We have significant client relationships, which we believe will be better served through a company-owned office," said Jack Van Berkel, chief operating officer of Grubb & Ellis Company and president, Real Estate Services.  "When we began searching for a Phoenix market leader, Pete was the first person to come to mind.  He brings the leadership skills, relationships and local market knowledge that will allow us to get our office up and running quickly, and the commitment to client service that will help to make us the market leader."

Bolton brings extensive leadership experience to his new role, having spent nine years at CB Richard Ellis as senior managing director of the company's Phoenix office during which time he significantly increased productivity and tripled the office's revenue.  Prior to joining CB Richard Ellis in 1999, he spent three years at Grubb & Ellis Company as senior vice president, district manager.  Bolton began his real estate career in 1980 at Grubb & Ellis as an industrial broker.

"Grubb & Ellis has a unique opportunity to leverage its incredible brand strength throughout Phoenix to open an owned office, and I'm thrilled to lead the charge, especially at the company where I began my real estate career," Bolton said.  "Grubb & Ellis and I have always been committed to the Phoenix market, and we have every intention of attracting the best talent in the market place and building a full service office that puts the client first and delivers the integrated real estate solutions they expect."

Greg Coxon, president, Brokerage Services, and head of the company's Mountain region, which includes Phoenix, teamed with Bolton while the two were at CB Richard Ellis.

"It's back to the future," Coxon said.  "Pete and I had a successful nine years as partners and accomplished a great deal together.  I am very excited to be working with Pete, and have responsibility for our Phoenix operations."  

Grubb & Ellis expects to immediately begin recruiting brokerage sales professionals, and will announce the location of its Phoenix office in the near future.  The company currently services its property management clients through an office at 2375 E. Camelback Road, Suite 300.

About Grubb & Ellis

Named to The Global Outsourcing 100™ in 2009 by the International Association of Outsourcing Professionals™, Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world.  Our 6,000 professionals in more than 130 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors.  The firm's transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise.  Through its investment subsidiaries, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), tenant-in-common (TIC) investments suitable for tax-deferred 1031 exchanges, mutual funds and other real estate investment funds.  For more information, visit www.grubb-ellis.com.

SOURCE Grubb & Ellis Company



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