Grubb & Ellis Company Announces Departure of Chief Financial Officer

SANTA ANA, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  announced that Richard W. Pehlke (top right photo)  has stepped down as executive vice president and chief financial officer effective May 3, 2010.

Matthew A. Engel, senior vice president, chief accounting officer will serve as interim chief financial officer until a permanent successor is named. A search for a replacement, which is being lead by Korn/Ferry International, is actively underway.

To facilitate a smooth transition, Pehlke will remain available on a consulting basis up to December 31, 2010.

“Due to Rich’s efforts, Grubb & Ellis is better positioned for sustainable long-term growth,” said Thomas P. D’Arcy, (bottom left photo)  president and chief executive officer of Grubb & Ellis. “He has been a valuable member of the executive team, providing the company with steady leadership, particularly with regards to our recent capital raise and the strengthening of our financial position.”

Pehlke joined the company as chief financial officer in February 2007, during which time he oversaw the financial integration following Grubb & Ellis’ merger with NNN Realty Advisors in December 2007, including moving the financial operations to Santa Ana, and, more recently, the company’s $97 million preferred equity offering in November 2009.

“I am very proud of what we accomplished over the past three years,”said Pehlke. “Given the strong position the company is now in and the talented team we have in place I have come to the conclusion that this is the appropriate time for me to seek new challenges and opportunities.”

Contact: Janice McDill, Phone: 312.698.6707, Email: janice.mcdill@grubb-ellis.com

 Donald Schmidt Promoted to Senior Director, Corporate Services

DALLAS, TX) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm announced that Donald Schmidt  (lower right photo) has been promoted to senior director, Corporate Services, in the company’s Dallas office, a newly created position that reflects the company’s expanding multi-market client relationships.

Schmidt will manage the company’s relationships with Goodman Inc., Pioneer Drilling Inc., Texas Instruments and Sun Belt Rentals, acting as the “single-point-of-contact” and ensuring seamless delivery of multi-market tenant representation, disposition and real estate consulting solutions. He previously served as director, Corporate Services, of the company’s Houston office.

“Since joining Grubb & Ellis, Don has done an outstanding job of supporting key corporate accounts to ensure that the clients’ needs are met above and beyond their expectations. He has played an integral role in business development and I believe he will continue to do so in his new role in the Dallas office,” said David Susoreny, president, Corporate Services.

Schmidt joined Grubb & Ellis in 2006 as a transactions manager and was promoted to director, Corporate Services in 2009. During his career, Schmidt has been involved in more than 103 site acquisitions, dispositions and build-to-suit projects.

Prior to joining Grubb & Ellis, he served as an account executive of Direct Energy Business Services, a leading supplier of electricity and natural gas products. He began his career in commercial real estate with Wulfe & Co. in 2003.

Schmidt holds a bachelor’s degree from Briar Cliff University and has served on the board of directors of the local Houston chapter of CoreNet Global since 2009.

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com