GBE Grubb & Ellis Company Common Stock

SANTA ANA, Calif., Dec. 9 /PRNewswire-FirstCall/ -- Grubb & Ellis Realty Investors, LLC today announced that the company secured a 47,000 square-foot lease at Lake Center IV, a four-story Class A office building located in Marlton, N.J., owned and managed on behalf of tenant-in-common investors. Conner Strong Companies Inc., a leading provider of property and casualty insurance and employee benefits products and services with clients in all 50 states and abroad, has signed a 10-year lease agreement to occupy the third and fourth floor of Lake Center IV. The space makes up more than 50 percent of the building. The company will take occupancy in March 2009. "The large amount of space became available at Lake Center IV when the mortgage lending company that previously occupied the space dissolved," explained Kent Peters, executive vice president of Asset Management, Grubb & Ellis Realty Investors. "We were able to backfill the space quickly with a high-quality tenant and I couldn't be more pleased with our results on behalf of the tenant-in-common owners of this asset." Purchased by Grubb & Ellis Realty Investors in May 2006, Lake Center IV is situated on approximately eight acres of land within a roughly 19 acre office park, and includes walking and jogging paths overlooking two lakes. Anne Klein, senior vice president, and Joe Sklencar Sr., senior associate, of Grubb & Ellis' Marlton office negotiated the lease on behalf of Grubb & Ellis Realty Investors. "When we learned the space was being vacated, we began contacting every decision maker in the marketplace to make sure we saw all large deals taking place that we could become involved with," said Klein. 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 $6.7 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 more than $11.5 billion on behalf of program investors since its founding in 1998; in excess of $8.5 billion 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 CONTACT: Julia McCartney, +1-714-975-2230, , or Damon Elder, +1-714-975-2659, , both of Grubb & Ellis Realty Investors Web site: http://www.grubb-ellis.com/ Company News On-Call: http://www.prnewswire.com/comp/136726.html

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