Grubb & Ellis Names Barry M. Barovick New President and CEO

Drawing On 27 Years of Experience, Former Global Director of Ernst & Young's

Corporate Real Estate Advisory Services is Tapped to Lead Company



Apr 23, 2001, 01:00 ET from Grubb & Ellis Company

    NORTHBROOK, Ill., April 23 /PRNewswire Interactive News Release/ -- Grubb
 & Ellis Company (NYSE:   GBE) one of the largest commercial real estate firms in
 the U.S., today announced that Barry M. Barovick will join the company as
 president and chief executive officer, effective May 15, 2001.  Reuben S.
 Leibowitz will remain as chairman of the board.
     "We're thrilled that Barry has agreed to lead the team," said Leibowitz.
 "Not only does Barry draw on his extensive experience aligning and executing
 business and real estate strategies for many global companies, he also has the
 vision and leadership qualities to take the company to the next level.  I have
 every confidence Barry will quickly make an impact on clients, employees and
 stockholders."  As partner and global director of Ernst & Young's Real Estate
 Advisory Services group, Barovick dramatically grew the Corporate Real Estate
 Advisory Services practice.
     Added Barovick, "Grubb & Ellis is an established industry leader with
 great potential.  The company has already built a solid foundation around very
 talented real estate professionals who have exhibited a true commitment to
 client service.  I'm very excited about this opportunity and look forward to
 what we can accomplish together."
 
     Professional Experience
     Barovick draws on over 27 years of experience advising leading global
 companies on developing and integrating real estate, financial and operational
 processes.  At Ernst & Young's Real Estate Advisory Services group, he was
 responsible for managing business development, new services and product
 development, and financial performance.  Prior to joining Ernst & Young in
 1991, Barovick was a principal at a privately held real estate consulting firm
 where he was principal-in-charge of corporate real estate strategic services.
 From 1982 to 1984, Barovick was a director of the Corporate Geographic Service
 Group at Landauer Associates, Inc.
     Barovick is a graduate of the University of Rhode Island and holds a
 Master of Science degree in economic geography and a Bachelor of Science
 degree in business administration.  Barovick has lectured extensively on
 corporate real estate and strategic planning and has published numerous
 articles in many prestigious industry periodicals.  He has also authored a
 book, The Ernst & Young Almanac and Guide to U.S. Business Cities.
     Grubb & Ellis Company is one of the nation's largest commercial real
 estate services firms.  Through its offices, affiliates and global strategic
 alliance with Knight Frank, one of the leading property consulting firms in
 Europe, Africa and Asia Pacific, the company provides a full range of real
 estate services, including advisory, management and consultative services, to
 users and investors worldwide.  With the collective resources of nearly 8,000
 people in over 200 offices in 29 countries, Grubb & Ellis professionals
 arrange the sale or lease of such business properties as industrial, retail
 and office buildings, as well as the acquisition and disposition of
 multifamily and hospitality properties and commercial land.  Major
 multiple-market clients have a single point of contact through the firm's
 corporate and institutional units for coordination of all of the firm's
 services as well as site selection, feasibility studies, market forecasts and
 research.  For more information, visit the company's website at
 www.grubb-ellis.com .
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X72114614
 
 

SOURCE Grubb & Ellis Company
    NORTHBROOK, Ill., April 23 /PRNewswire Interactive News Release/ -- Grubb
 & Ellis Company (NYSE:   GBE) one of the largest commercial real estate firms in
 the U.S., today announced that Barry M. Barovick will join the company as
 president and chief executive officer, effective May 15, 2001.  Reuben S.
 Leibowitz will remain as chairman of the board.
     "We're thrilled that Barry has agreed to lead the team," said Leibowitz.
 "Not only does Barry draw on his extensive experience aligning and executing
 business and real estate strategies for many global companies, he also has the
 vision and leadership qualities to take the company to the next level.  I have
 every confidence Barry will quickly make an impact on clients, employees and
 stockholders."  As partner and global director of Ernst & Young's Real Estate
 Advisory Services group, Barovick dramatically grew the Corporate Real Estate
 Advisory Services practice.
     Added Barovick, "Grubb & Ellis is an established industry leader with
 great potential.  The company has already built a solid foundation around very
 talented real estate professionals who have exhibited a true commitment to
 client service.  I'm very excited about this opportunity and look forward to
 what we can accomplish together."
 
     Professional Experience
     Barovick draws on over 27 years of experience advising leading global
 companies on developing and integrating real estate, financial and operational
 processes.  At Ernst & Young's Real Estate Advisory Services group, he was
 responsible for managing business development, new services and product
 development, and financial performance.  Prior to joining Ernst & Young in
 1991, Barovick was a principal at a privately held real estate consulting firm
 where he was principal-in-charge of corporate real estate strategic services.
 From 1982 to 1984, Barovick was a director of the Corporate Geographic Service
 Group at Landauer Associates, Inc.
     Barovick is a graduate of the University of Rhode Island and holds a
 Master of Science degree in economic geography and a Bachelor of Science
 degree in business administration.  Barovick has lectured extensively on
 corporate real estate and strategic planning and has published numerous
 articles in many prestigious industry periodicals.  He has also authored a
 book, The Ernst & Young Almanac and Guide to U.S. Business Cities.
     Grubb & Ellis Company is one of the nation's largest commercial real
 estate services firms.  Through its offices, affiliates and global strategic
 alliance with Knight Frank, one of the leading property consulting firms in
 Europe, Africa and Asia Pacific, the company provides a full range of real
 estate services, including advisory, management and consultative services, to
 users and investors worldwide.  With the collective resources of nearly 8,000
 people in over 200 offices in 29 countries, Grubb & Ellis professionals
 arrange the sale or lease of such business properties as industrial, retail
 and office buildings, as well as the acquisition and disposition of
 multifamily and hospitality properties and commercial land.  Major
 multiple-market clients have a single point of contact through the firm's
 corporate and institutional units for coordination of all of the firm's
 services as well as site selection, feasibility studies, market forecasts and
 research.  For more information, visit the company's website at
 www.grubb-ellis.com .
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X72114614
 
 SOURCE  Grubb & Ellis Company