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February 22, 2012

Grubb says it's bankrupt

  • The real estate brokerage plans to sell most of its assets to BGC Partners, a financial services company that acquired Newmark Knight Frank last fall.
    • By MARC STILES
    Journal Staff Reporter

    Grubb & Ellis is declaring bankruptcy and has signed a deal to sell most of its assets to a company that owns another commercial real estate firm called Newmark Knight Frank.

    What effect this will have on local operations is not clear. A source close to the deal said details, such as what name the company will operate under, have not been determined.


     
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