Grubb & Ellis Tapped as Leasing Agent of Kingsbury Center in Chicago's River North Neighborhood

CHICAGO, IL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Grubb & Ellis has been selected as the leasing agent for Kingsbury Center, a 135,000-square-foot Class A office building in the city’s River North submarket.

The building is owned by Kingsbury Orleans LP, a private partnership, and is managed by The Habitat Company.

Ted Prillaman, vice president and Sara Spicklemire, LEED AP, associate, both members of the company’s Office Group, will assist The Habitat Company in leasing the available space in the building, located at 350 W. Hubbard St.

“As a modern office property in a submarket comprised mostly of older, renovated brick and timber loft buildings, Kingsbury Center provides a unique option for tenants looking for great amenities and the vibrancy and quality of life the River North neighborhood affords,” said Prillaman.

Built in 1989, Kingsbury Center is currently approximately 85 percent leased.

Contact: Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com

Grubb & Ellis Company Amends Credit Facility

SANTA ANA, CA (Oct. 1, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that the company and its lead bank, Deutsche Bank Trust Company Americas, have amended the company’s senior secured credit facility effective September 30, 2009.

The amendment provides a 60-day extension and defers until November 30, 2009, the $27.3 million Partial Prepayment of the facility originally due on September 30, 2009. The amendment also gives the company a one time right to prepay the facility in full for a reduced principal amount equal to approximately 65 percent of the aggregate principal amount outstanding at the time of prepayment. The amendment allows for a one-time infusion of $5 million from the company’s largest stockholder, or affiliate thereof, that may be used for working capital purposes.

In issuing the announcement, Grubb & Ellis said it views the amendment as a constructive step between the company and its lenders to facilitate completion of its efforts to recapitalize the company and further stabilize its balance sheet.

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