Grubb & Ellis loses $5.1 million
Grubb & Ellis Co., an international real estate brokerage based in Santa Ana, reported a second-quarter loss of $5.1 million, or 8 cents a share, on slowing commercial property sales.
The company earned a profit of $10.2 million, or 24 cents, a year earlier. Revenue fell 9% to $167 million.
NNN Realty Advisors acquired Grubb & Ellis last year and moved the headquarters to Orange County.