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Grubb & Ellis: Upbeat Despite Market Headwinds, 2Q Loss

Company Reports $5M Loss But Executives Describe Results as 'Strong.' Despite Personnel Changes, Company Calls NNN Merger Integration 'Seamless'
CoStar News
August 6, 2008 | 10:59 P.M.

Grubb & Ellis Co. [NYSE: GBE] lost $5.1 million in the second quarter, joining rivals CB Richard Ellis (NYSE: CBG) and Jones Lang LaSalle (NYSE: JLL) in watching earnings take a hit as a result of the commercial real estate and capital markets slowdown. Grubb & Ellis said the quarterly loss reflects property charges and $4.7 million in integration costs related to its reverse merger last December with NNN Realty Advisors Inc.

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