SANTA ANA, Calif., Jan. 6, 2012 /PRNewswire/ -- Grubb & Ellis
Company, a leading real estate services and investment firm, today
announced that its common stock will begin trading under the symbol
"GRBE" on the OTCQB marketplace, operated by OTC Markets Group, on
Friday, Jan. 6, 2012. More
information, including Real-Time Level 2 quotes, is available at
otcmarkets.com.
As previously announced, the New York Stock Exchange has advised
Grubb & Ellis that its common stock traded under the symbol GBE
will be suspended from trading on the NYSE prior to the opening of
the market on Friday, Jan. 6, 2012,
because the company had fallen below the NYSE's continued listing
standards. Grubb & Ellis plans to appeal this decision.
The transition of the company's common stock to the OTCQB does
not affect shareholders' ability to trade the company's common
stock on the OTCQB. Any holders of Grubb & Ellis stock should
contact their brokers or other investment advisors regarding
trading in this stock.
About Grubb & Ellis Company
Grubb & Ellis Company is one of the largest and most
respected commercial real estate services and investment companies
in the world. Our 5,200 professionals in more than 100
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 management business, the company is a leading
sponsor of real estate investment programs. For more information,
visit www.grubb-ellis.com.
Forward-Looking Statements
Certain statements included in this press release may constitute
forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors that may cause the
company's actual results and events in future periods to be
materially different from those anticipated, including risks and
uncertainties related to the financial markets. Such factors which
could adversely affect the company's ability to obtain these
results include, among other things: (i) the general economic
pressures on transaction values of sales and leasing transactions
and businesses in general; (ii) a prolonged and pronounced
recession in real estate markets and values; (iii) the
unavailability of credit to finance real estate transactions in
general; (iv) the success of current and new investment programs;
(v) the success of new initiatives and investments; (vi) the
inability to attain expected levels of revenue, performance, brand
equity in general, and in the current macroeconomic and credit
environment, in particular; (vii) the occurrence of a bankruptcy by
the Met 10 tenant-in-common program or the demand for payments on
certain non-recourse/carve-out guaranty and indemnification
obligations issued by the company, which may, in turn, in the event
such bankruptcy, or such guaranty or indemnification obligations
cannot be met, result in a cross-default under the company's issued
and outstanding Convertible Senior Notes; (viii) the timing and
amount of remaining revenues and cash flows generated from our
sponsored non-traded REIT post-termination; (ix) the inability to
obtain additional financing or complete other strategic
transactions; and (x) other factors described in the company's
annual report on Form 10-K for the fiscal year ending Dec. 31, 2010, the company's quarterly report on
Form 10-Q for the quarter ended March 31,
2011, June 30, 2011 and
Sept. 30, 2011, and other Current
Reports on Form 8-K filed by the company from time to time with the
Securities and Exchange Commission. The company does not undertake
any obligation to update forward-looking statements.
SOURCE Grubb & Ellis Company