The profit was made on revenue of $440.6 million, up 3.4% from the previous year, as Grubb & Ellis Co. increased its commissions, valuation and consulting fees to $249.3 million for the fiscal year. "Fiscal 2004 was characterized by increases in our recruiting and retention of top producers as well as the size and volume of leasing and sales transactions," says Grubb & Ellis transaction services president Robert Osbrink.
"By focusing on our core businesses and operational performance, we have been able to increase market share and capitalize on the improving real estate markets," adds executive vice president and chief financial officer Brian Parker. "This is reflected in our bottom-line results."
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