The Santa Ana-based company Grubb & Ellis Co. has announced Thomas P. D’Arcy as the new president and chief executive on Monday. D’Arcy will be joining the commercial real estate brokerage and investor firm by next week.

D’Arcy is heading the Inland Real Estate Corp. as the chairman of the corporation. Inland is a real estate investment trust of $1.5 billion. D’Arcy was associated with the corporation since 2005 as an independent director. D’Arcy also served as a principal in Bayside Realty Partners, which is a private investment and development firm before he joined Grubb & Ellis Co.

Grubb has done a thorough and complete research for finding a suitable CEO and have finally appointed D’Arcy for the position. The company was headed by Irvine Co.’s former executive Gary Hunt on an interim basis since July 2008 Scott Peters, the former chief executive of the company departed.

The necessity of hiring a new chief executive occurs in less than a month’s time when the company announced a plan of refinancing that could bring in $100 million of investments for the company. Hunt would be replaced by D’Arcy on the company’s board member’s list. He also has another experience of working with Bradley Real Estate Inc., which is also a real estate investment trust, from the year 1989 to 2000.

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