While revenue from investment sales was up, commissions from leases lagged, says chief financial officer Brian Parker. "Just as we expect the leasing markets to strengthen in 2005, we also believe the relatively low-interest rate environment and strong capital markets will continue to fuel investment sales," adds transaction services president Bob Osbrink.
Meanwhile, Grubb & Ellis' property management portfolio grew by 12.5 million sf during the recent quarter, the company reports. Management fees increased 3.5% to $47.9 million during the quarter. "Much of our new business continues to come from the expanding needs of our existing clients," explains president of global client services Maureen Ehrenberg.
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