Grubb & Ellis Names New Chairman

SANTA ANA, CALIFORNIA - January 29, 2008 - Grubb & Ellis Company, a real estate service provider, said Tuesday its recently installed chairman has resigned and will be replaced by one of the company’s independent directors.

Anthony W. Thompson took over as chairman of Grubb & Ellis less than two months ago when the company was acquired by NNN Realty Advisors Inc. Before the acquisition, Thompson served as chairman of NNN. His resignation becomes effective Feb. 8.

He will be replaced by Glenn L. Carpenter, who will serve as non-executive chairman. Carpenter, 64, is chief executive, president and chairman of FountainGlen Properties LP, which owns retirement community apartments.

As of Dec. 7, 2007, Thompson held a 13.9 percent stake in Grubb & Ellis, making him the second-largest stockholder behind Chief Executive C. Michael Kojaian, who owns a 16.4 percent interest, according to Capital IQ.

Grubb & Ellis Names New Chairman
Copyright © 2008 The Associated Press