Grubb & Ellis Acquires Las Vegas Affiliate

SANTA ANA, CA  (July 6, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has strengthened its presence in the Western United States by acquiring a 100 percent interest in its Las Vegas affiliate, Grubb & Ellis Las Vegas.

The acquisition marks the third owned office the company has established during 2010. Terms of the transaction were not disclosed.

“The acquisition is consistent with Grubb & Ellis’ growth strategy to bolster its full-service capabilities throughout the country,” said Thomas P. D’Arcy (top right photo), president and chief executive officer of Grubb & Ellis. “We believe Las Vegas offers significant opportunity, and Grubb & Ellis

Las Vegas is a recognized leader in the region. They have been one of our most productive affiliate offices, and there is no question that they best represent our company and our clients in the market.”

The change in ownership structure adds approximately 30 experienced brokerage professionals to Grubb & Ellis Company, who specialize in all aspects of commercial real estate, including office, industrial, retail, investments, multi-family and land.

 In addition to leasing, acquisition and disposition services, the office manages nearly 3 million square feet of commercial property.

Joseph E. Kupiec, Sr (lower right photo) . will continue to oversee the Las Vegas office as executive vice president, managing director. Allan M. Murow, (lower left photo)  former principal of Grubb & Ellis
Las Vegas, will stay on as a management consultant.

“Over the past decade, we’ve built a solid relationship with Grubb & Ellis and look forward to working even closer together in the months and years ahead,” said Kupiec.

 “We’re excited about the progress the company has made over the past two years and believe that there is long-term benefit for our employees to be part of Grubb & Ellis.”

Grubb & Ellis has stated that its goal is to be the leading provider of integrated real estate services.

 In support of this objective, over the past two years it has restructured its Real Estate Services business, aggressively recruited top talent into the company and strengthened and expanded its service platform to better meet the needs of clients and enhance the company’s overall profitability.

“Since joining the company as an affiliate in 2000, the Las Vegas office has demonstrated its willingness to take full advantage of the Grubb & Ellis platform and its strong commitment to clients,” said Jack Van Berkel, (top left photo)  chief operating officer of Grubb & Ellis and president, Real Estate Services.

“Our affiliate platform remains an important component of servicing the company’s clients in a number of secondary and tertiary markets throughout the country; however, there are certain markets where we believe it is critical to have an owned-office presence.”

During 2010, Grubb & Ellis opened owned offices in San Diego and Phoenix, and announced similar plans for Cincinnati and Columbus, Ohio, and Charlotte, N.C.

Grubb & Ellis’ Las Vegas office will remain at 3930 Howard Hughes Parkway, Suite 180.

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