BGC acquires Grubb & Ellis, forms Newmark Grubb Knight Frank
Grubb & Ellis Co., a large commercial real estate firm that served the midstate, has been acquired by the global brokerage BGC Partners Inc. and merged into Newmark Grubb Knight Frank.
According to a news release, the acquisition was finalized in April after being approved by the U.S. Bankruptcy Court for the Southern District of New York. The transaction was implemented as an asset sale under Section 363 of the U.S. Bankruptcy Code.
BGC acquired the other merged company, Newmark Knight Frank, in October 2011. BCG also reported adding more than 50 top-producing brokers in offices across the country to its team.
“Newmark Knight Frank and Grubb & Ellis each have consistently ranked among the leading companies in the real estate industry,” Michael Lehrman, BGC’s global head of real estate, said in the release.
He noted that the merged companies have “more than 100 offices in North America, 250 million square feet in property and facilities management, and an outstanding national appraisal business.”
The Grubb & Ellis company website features several current listings for industrial and commercial properties in the area, including Conewago Industrial Park in West Donegal Township, Lancaster County, and Harrisburg Distribution Center No. 4 in Hampden Township, Cumberland County.
The company’s central Pennsylvania business has been handled by agents from the King of Prussia office, which is also listed on the new merged site.