GBE Grubb & Ellis Company Common Stock

Newly Created Position Strengthens Investment Brokerage Capabilities; Leverages Company's Expanded Platform SANTA ANA, Calif., June 11 /PRNewswire-FirstCall/ -- Grubb & Ellis Company (NYSE:GBE), a leading real estate services and investment firm, today announced that Glen Esnard, former President of Brokerage Services at Colliers International, has been named President, Capital Markets. The newly created position leverages Esnard's nearly 30 years of commercial real estate experience, extensive knowledge of investment sales and the alternative real estate investment market to capitalize on Grubb & Ellis' unique ability to provide clients a full array of real estate services and investment products. "Strengthening our capital markets capabilities and maximizing the synergies between our real estate services and investment businesses to better serve our clients are both key priorities as we build the new Grubb & Ellis," said Scott D. Peters, Chief Executive Officer of Grubb & Ellis Company. "Glen will be a strong addition to our management team." Esnard joins Grubb & Ellis effective June 23 and will be based in the Company's Santa Ana headquarters. He will be responsible for directing Grubb & Ellis' investment brokerage business, which includes its Institutional Investment Group and Private Capital Investment Group. "Grubb & Ellis' recent merger with NNN Realty Advisors created a unique organization -- one that can offer its clients expertise related to both real estate services and direct investments in real estate," Esnard said. "The combination has created a significant differentiator and sets the stage for considerable growth." Most recently, Esnard was President, Brokerage Services at Colliers International, where he led the firm's U.S. brokerage operations, which included 24 offices and more than 450 brokers, from 2006 to January 2008. Previously, he was a Partner at FORT Properties, Inc., and one of five principals responsible for the development of the tenant-in-common firm. Earlier in his career, Esnard spent 23 years at CB Richard Ellis in a variety of brokerage and leaderships roles. In addition to launching the firm's Private Client Group, Esnard was Senior Managing Director, Investment Properties, with responsibility for CB Richard Ellis' investment business in the Western United States. He also created a number of specialized practices, including the firm's net-lease practice, held line management positions in Arizona, Northern California and Los Angeles and was a nationally recognized broker in the firm for a number of years. Esnard began his brokerage career in 1980 with Grubb & Ellis. Esnard holds a bachelor's degree from the University of Southern California. He is a member of the National Association of Industrial and Office Properties and the Executive Committee of the University of Southern California Lusk Center. About Grubb & Ellis Grubb & Ellis Company (NYSE:GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise. Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded real estate investment trusts (REITs) and real estate investment funds. As of March 31, 2008, more than $3.4 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 218 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit http://www.grubb-ellis.com/. DATASOURCE: Grubb & Ellis Company CONTACT: Janice McDill of Grubb & Ellis Company, +1-312-698-6707, Web site: http://www.grubb-ellis.com/ Company News On-Call: http://www.prnewswire.com/comp/136726.html

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