GBE Grubb & Ellis Company Common Stock

SANTA ANA, Calif., June 25 /PRNewswire/ -- Grubb & Ellis Realty Investors, LLC today announced the disposition of Westway Shopping Center in Wichita, Kan., on behalf of tenant-in-common investors. Located at 2401-2565 S. Seneca St., and 1129-2439 W. Pawnee St., Westway Shopping Center is comprised of one multi-tenant retail strip building, one ATM structure and eight pad buildings that offer a total of nearly 200,000 square feet of rentable area. Situated on approximately 24 acres of land, there are 1,303 parking spaces on site and 13 different driveway entries from multiple streets surrounding the property. Originally purchased in August 2000, Westway Shopping Center was sold to Raymond Plaza, LLC. John Rance from Rance Commercial and Douglas Malone from J.P. Wiegand & Sons, Inc. were the brokers involved in the transaction. The disposition marks the 55th securitized 1031 TIC exchange program taken full-cycle by Grubb & Ellis Realty Investors, an unrivaled industry record. About Grubb & Ellis Realty Investors Grubb & Ellis Realty Investors, LLC is the real estate investment and asset management subsidiary of Grubb & Ellis Company (NYSE:GBE), a leading real estate services and investment firm. Grubb & Ellis Realty Investors and affiliates manage a growing portfolio of assets valued in excess of $6.1 billion located throughout 30 states. One of the nation's most active buyers and sellers of commercial real estate, Grubb & Ellis Realty Investors has completed acquisition and disposition volume totaling approximately $10.4 billion on behalf of program investors since its founding in 1998; more than 70 percent of this volume has been transacted since Jan. 1, 2005. Grubb & Ellis Realty Investors and affiliates are currently buying and selling properties throughout the United States, offering a full range of commercial real estate investment programs, including tenant-in-common (TIC) programs for investors structuring tax-deferred (like-kind) exchanges under Section 1031 of the Internal Revenue Code, non-traded public real estate investment trusts (REITs), multi-member limited liability companies (LLCs) and institutional investments. Through the Grubb & Ellis Wealth Management program, Grubb & Ellis Realty Investors also offers high net worth investors a comprehensive program to build or expand their commercial real estate portfolio, whether their investment objectives are 1031 exchange driven or not. DATASOURCE: Grubb & Ellis Realty Investors, LLC CONTACT: Julia McCartney of Grubb & Ellis Realty Investors, LLC, +1-714-667-8252, ext. 230, Web site: http://www.grubb-ellis.com/ Company News On-Call: http://www.prnewswire.com/comp/136726.html

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