Grubb & Ellis out of compliance with NYSE | Houston Business Journal

Grubb & Ellis out of compliance with NYSE Houston Business Journal Grubb & Ellis out of compliance with NYSE Houston Business Journal - by Candace Carlisle, Dallas Business Journal Date: Tuesday, April 12, 2011, 2:41pm CDT Commercial real estate brokerage Grubb & Ellis was notified that its stock was out of compliance with the New York Stock Exchange’s listing standards, according to media reports. The stock exchange requires a minimum $1-per-share average closing price for 30 straight days. The Santa Ana, Calif.-based firm (NYSE: GBE) has six months to fix the issue. The company ranked 6th on Houston Business Journal's list of Largest Houston Area Commercial Real Estate Brokerage Firms with 42 full-time licensed brokers, published on Jan. 28. The news comes several weeks after Grubb & Ellis said it was exploring financial strategies that could involve the sale of the company. Last year, Grubb & Ellis reported a net loss of $66.8 million, with a revenue of $575.5 million during the same time period. Read more: Grubb & Ellis out of compliance with NYSE Houston Business Journal