Has Grubb & Ellis finally found the right buyer?
That’s the hope as the national commercial real estate firm, which boasts several offices in the Midwest, is in early talks with BGC Partners, LP., an affiliate of Cantor Fitzgerald.
If BGC Partners does eventually purchase Grubb & Ellis, it wouldn’t be the first time that this New York-based voice and electronic brokerage has made a splash in the commercial real estate industry. Last year, the company purchased commercial real estate firm Newmark Knight Frank for $65.6 million in cash and stock.
Grubb & Ellis has entered into an exclusivity agreement with BGC Partners, giving the company the exclusive right to to pursue debt or equity financing, a purchase or another strategic transaction with Grubb & Ellis. The exclusivity agreement went into effect Jan. 16 and will expire Jan. 31.
