Grubb & Ellis files for bankruptcy

Grubb & Ellis files for bankruptcy

Commercial real estate services firm Grubb & Ellis applied for bankruptcy protection.

The firm has an office in Portland.

The Santa Ana, Calif., company started Chapter 11 proceedings in New York so it could be sold as an asset sale to BGC Partners Inc. for $30 million. BGC bought New York-based Newmark Knight Frank in October. 
In a joint statement, the two companies said the acquisition would allow BGC to expand its reach and give Grubb access to BGC's deep pockets and brokerage technology.

Read more at OregonLive.com.

{biztweet}grubb ellis{/biztweet}