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Grubb & Ellis Realty Investors Sells Reserve at Maitland in Maitland, Fla. |
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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.
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