Grubb & Ellis Announces Affiliation with Solomon Partners

Agreement Establishes Company’s Presence in Northwest and Central Arkansas

CHICAGO (July 2, 2007) – Grubb & Ellis Company (NYSE: GBE), one of the leading providers of integrated real estate services, today announced that it has entered into an affiliation with Solomon Partners, a full-service commercial real estate firm serving Northwest and Central Arkansas.  The firm has already begun doing business as Grubb & Ellis|Solomon Partners.

Based in Bentonville, Ark., Solomon Partners was established by four highly respected local real estate veterans – Beau Barrett, Paul Esterer, Kourtney Barrett and Randy Lawson.  The group has a diverse background in all facets of the industry, including, acquisition/disposition services, lessor and tenant representation, investment services, 1031 exchanges, development, urban planning, financing, and corporate and consulting services.  With seven professionals, the Bentonville team brings to each assignment this depth of expertise combined with state-of-the-art technology, outstanding client service and a dedication to the future of the community. 

“As home to Wal-Mart, the world’s largest retail organization, the importance of the Northwest Arkansas market cannot be overlooked,” said Pat Hurley, President, Grubb & Ellis Affiliates, Inc.  “In this region of tremendous economic growth, we are committed to helping our clients achieve their real estate objectives and are certain that Solomon’s experience will be a valuable asset to the countless suppliers and logistics companies with ties to the area.” 

Grubb & Ellis|Solomon Partners’ Central Arkansas office is located in North Little Rock.  The firm entered the market by teaming up with Vanadis 3 Companies, LLC, a team of three professionals, which has been providing comprehensive real estate services since 1995.  The office is managed by J. Fletcher Hanson III, President of Vanadis 3 Companies and Managing Partner of Solomon Partners.

Hurley said, “As the capital city and home to many of the state’s largest companies, including Dillard’s, Stephen’s Inc., Acxiom and Alltel, Little Rock is a natural extension of our coverage in Arkansas.”

Beau Barrett, Managing Partner of Solomon Partners, said, “We operate in a dynamic, growing environment and are committed to providing clients the most comprehensive market information and innovative real estate solutions available in the industry.  It was clear that joining Grubb & Ellis would help us do that and we are looking forward to working together to meet the future space needs of our clients.”

The Grubb & Ellis affiliate program allows Grubb & Ellis to provide comprehensive services to its multi-market clients by extending the Company’s presence into key markets where it currently does not have an office.  In return, Grubb & Ellis offers affiliates a comprehensive business platform that includes industry-leading market research and one of the most extensive networks of real estate professionals in the industry.  With the Solomon affiliation, Grubb & Ellis now has agreements with 45 affiliates serving 66 markets.

Grubb & Ellis | Solomon Partners Commercial is a one-stop full-service commercial real estate firm serving the entire state of Arkansas.  GESP specializes in office, retail, multifamily, industrial and investment properties.  We believe there is opportunity in any economic climate. Our team’s mission is to develop these opportunities for our clients, then provide the counsel, resources, and professional service they need to take advantage of them.

More information about Grubb & Ellis | Solomon Partners can be found at http://www.grubbellisar.com/.