SANTA ANA, Calif., Nov. 9 /via PRNewswire-FirstCall/ — Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Thomas P. D’Arcy will join the company as president, chief executive officer and a member of the board of directors, effective Nov. 16.

“Tom is an experienced and respected executive in the commercial real estate industry and we are extremely pleased to have him joining our company. With the recent completion of the company’s recapitalization, we are confident that Tom will accelerate the execution of Grubb & Ellis’ growth strategy and build long-term value for stockholders,” said C. Michael Kojaian, chairman of the board of Grubb & Ellis Company. “I also want to take this opportunity to thank Gary Hunt for the time and effort he devoted to the company as interim CEO.”

D’Arcy, 49, brings 25 years of successful leadership experience at various public and private real estate companies, and is currently the non-executive chairman of Inland Real Estate Corporation (NYSE: IRC), a $1.5-billion REIT where he has served as an independent director since 2005. D’Arcy also previously served as chairman and chief executive officer of Bradley Real Estate, Inc., a NYSE-listed real estate investment trust, from 1989 to 2000.

“I am excited for the opportunity to lead Grubb & Ellis Company, and to work with its team of highly dedicated professionals,” said D’Arcy. “Although the past year has brought significant challenges, the company has accomplished a great deal, including the recently completed recapitalization. This places Grubb & Ellis in a strong position to expand its leadership position in the commercial real estate industry, especially now while the market is in significant transition. I believe Grubb & Ellis has an enormous opportunity to leverage its talent, reach, proprietary research and local market expertise to create value for our shareowners, our clients and our employees.”

Prior to joining the company, besides serving on the Inland board, D’Arcy was a principal in Bayside Realty Partners, a private real estate company focused on acquiring, renovating and developing land and income-producing real estate. From 2001-2004, he was president and chief executive officer of Equity Investment Group, a private REIT. During his tenure at Bradley, D’Arcy significantly grew the company through restructuring, mergers and acquisitions, which led to its sale to Heritage Property Investment Trust in 2000, creating substantial value for its shareowners.

D’Arcy holds a bachelor’s degree from Bates College.

Anthony J. LoPinto of Equinox Partners conducted the company’s search and recruitment of D’Arcy.

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