Grubb & Ellis|Commercial Florida Negotiates New Lease at Anclote Corner Shopping Center in Tarpon Springs

TAMPA, Fla. - Grubb & Ellis|Commercial Florida, which is associated with 130 Grubb & Ellis offices worldwide, recently negotiated a new lease for 1,200 square feet of retail space in the Anclote Corner Shopping Center in Tarpon Springs.

Michelle Seifert associate vice president in the Retail Services Group at Grubb & Ellis|Commercial Florida, negotiated the transaction representing the landlord, Anclote Corner Associates of New York, NY.

The new tenant at 1963 North Pinellas Avenue is Metro Cellular, LLC a local firm.

The 51,200 square foot Anclote Corner is now 95 percent leased.

About Grubb & Ellis:
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded real estate investment trusts (REITs) and real estate investment funds. As of September 30, 2008, more than $3.8 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 225 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit www.grubb-ellis.com.

For more information about this news release, contact:
Michelle Seifert, Associate Vice President, Retail Services Group, Grubb & Ellis|Commercial Florida, 813-830-7537, mseifert@commercialfl.com Jeffrey S. Sweeney, President, Grubb & Ellis|Commercial Florida, 407-481-5387, Jsweeney@commercialfl.com