 COSTA
MESA, Calif. (March 7, 2006) - Grubb & Ellis Company (OTC:GBEL), one
of the leading providers of integrated real estate services, today announced
that an affiliate of Makar Properties has purchased the 238-room Wyndham
Orange County Hotel in Costa Mesa from an undisclosed seller. The hotel
is centrally located at 3350 Avenue of the Arts in close proximity to South
Coast Plaza, the Orange County Performing Arts Center, the many neighboring
office buildings and John Wayne International Airport. The sale price was
not disclosed.
This premier boutique hotel in Costa Mesa/ Orange County is an addition to the Makar hotel portfolio. Among other hotels in its portfolio is the famous St. Regis Monarch Beach Resort & Spa, a 400-room resort hotel located in Dana Point. Jordan L. Richman, Senior Vice President with Grubb & Ellis' Hospitality Group, advised both buyer & seller in this transaction; as well as having the listing in the original sale in April 1993. For more information, contact Richman at 310.235.2933. Grubb & Ellis Company Grubb & Ellis Company is one of the world's leading full-service commercial real estate organizations, providing a complete range of transaction, management and consulting services. By leveraging local expertise with our global reach, Grubb & Ellis offers innovative, customized solutions and seamless service to owners, corporate occupants and investors throughout the globe. For more information, visit the Company's Web site at www.grubb-ellis.com. |