After Grubb & Ellis filed bankruptcy this week, I started trolling through their website to see what kind of properties they’ve been trying to sell.
One of them was a 142-acre ghost town near San Jose, Calif., with beautiful redwood trees, a creek the flows year-round with waterfalls, and a really creepy history. The land was a compound for a white-supremist cult in the 1930s and 1940s, and though not far from the sprawl from San Francisco, it hasn’t been developed since.
Meantime, Grubb & Ellis is becoming something of a ghost town itself, with professionals fleeing to better capitalized firms.
Click here to read my column on MarketWatch.