Osbrink joined Grubb & Ellis in 1988 and held numerous local and regional management roles during his 20 years at Grubb & Ellis. He was named EVP and president of transaction services in 2004. In May 2008, Osbrink was named chairman of transaction services and the title of president was transferred to company COO Jack Van Berkel. Also that month, Greg Coxon was named president of transaction services for the Western region.
A source within G&E tells GlobeSt.com that there have been significant changes at the top of G&E since the merger with NNN Realty Advisors. "We have very little loss at the field level--the brokers and the research, admin and marketing operations," says the source. "The redundancy was at the highest levels of management and that is what's been changing, and the new personnel tend to come from CB Richard Ellis because that's where Berkel and the new heads of HR and IT came from."
[IMGCAP(2)]Berkel joined NNN Realty Advisors, as SVP of Human Resources in August 2007, prior to the company's merger with G&E. At the time, NNN executives said his experience would help NNN and Grubb & Ellis integrate their operations while also expanding their corporate real estate services platform and investment products globally.
The G&E source also said the changes within transaction services may be an attempt to increase the profitability of that side of the operation. "We are doing really well now because of our multiple revenue streams—transactions, asset management, property management and TIC sponsoring," says the source. "But the margins have never been that great in transactions."
Some former G&E and NNN Realty Advisors managers have ended up at Thompson National Properties, the company founded a few months ago by NNN Realty Advisors founder Tony Thompson. A source with Thompson says Osbrink has not joined that company.
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