Court Names Receiver for 2600 Michelson Tower

IRVINE, CA-The Orange County Superior Court has named senior vice president Hans Mumper of Grubb & Ellis as receiver for the 16-story, 308,000-square-foot 2600 Michelson Dr. office tower. The naming of Mumper follows the recent filing of a complaint by Bank of America asking that a receiver be appointed for the office tower, which is one of six office properties in Orange and Los Angeles counties owned by Los Angeles-based Maguire Properties that are now in default, according to the REIT’s latest quarterly financial report.

Mumper, who joined Grubb & Ellis a year ago as director of management services in the Santa Ana-based company’s Downtown L.A. office, says that Grubb & Ellis will mount “an intensive marketing campaign” to reintroduce 2600 Michelson. Greg May and Oliver Fleener, both senior vice presidents in the Newport Beach office of Grubb & Ellis, will be responsible for leasing the asset, where spaces available range from 1,400 square feet to 80,000 square feet.

One objective of the new marketing campaign will be “to make the market aware that the ownership structure is fully capable to fund tenant improvement and commissions,” according to May. He says that Grubb & Ellis has already received numerous inquiries since it took the leasing assignment and is involved in negotiations with a number of tenants.