(RTTNews) - Grubb & Ellis Co. (GBE: News ), a real estate services and investment firm, Monday said it appointed Thomas D'Arcy president, chief executive officer and a member of the board of directors, effective November 16. D'Arcy curretly serves Inland Real Estate Corporation (IRC: News )as the non-executive chairman.

D'Arcy has been credited with about 25 years experience in leadership roles at various public and private real estate companies. Previously, D'Arcy had been the chairman and chief executive officer of Bradley Real Estate, Inc., a NYSE-listed real estate investment trust, from 1989 to 2000. During his tenure at Bradley, it witnessed growth through restructuring, mergers and acquisitions, which led to its sale to Heritage Property Investment Trust in 2000.

D'Arcy was also a principal in Bayside Realty Partners, a private real estate company focused on acquiring, renovating and developing land and income-producing real estate. He was also with Equity Investment Group, a private REIT, from 2001-2004 as president and chief executive officer.
Gary Hunt has been leading Grubb & Ellis as interim CEO after Scott Peters resigned in the summer of 2008.

GBE is currently trading at $1.56, up 0.10 or 6.85%, on a volume of 399K shares on the NYSE.

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by RTT Staff Writer

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