Grubb & Ellis Realty Investors Sells Great Oaks Center in Alpharetta, Ga.

SANTA ANA, Calif., July 23 /PRNewswire-FirstCall/ -- Grubb & Ellis Realty
Investors, LLC today announced the disposition of Great Oaks Center in the
Atlanta suburb of Alpharetta on behalf of tenant-in-common investors.
Great Oaks Center is a four building, single-story business park that
offers approximately 235,000 square feet of rentable space. Built between
2000 and 2002, the property is situated on approximately 22 acres of land. It
offers easy access to State Highway 120 and 400, and has 516 on-site parking
spaces for visitors and tenants.
Purchased by Grubb & Ellis Realty Investors in July 2004, Great Oaks
Center was sold to KBS Great Oaks LLC. Stewart Calhoun and David Meline from
Cushman & Wakefield of Georgia Inc. represented the seller in the transaction.
The disposition marks the 58th securitized 1031 TIC exchange program taken
full-cycle by Grubb & Ellis Realty Investors, an unrivaled industry record.
About Grubb & Ellis Realty Investors
Grubb & Ellis Realty Investors, LLC is the real estate investment and
asset management subsidiary of Grubb & Ellis Company (NYSE: GBE), a leading
real estate services and investment firm. Grubb & Ellis Realty Investors and
affiliates manage a growing portfolio of assets valued in excess of
$6.1 billion located throughout 30 states. One of the nation's most active
buyers and sellers of commercial real estate, Grubb & Ellis Realty Investors
has completed acquisition and disposition volume totaling approximately
$10.4 billion on behalf of program investors since its founding in 1998; more
than 70 percent of this volume has been transacted since Jan. 1, 2005.
Grubb & Ellis Realty Investors and affiliates are currently buying and
selling properties throughout the United States, offering a full range of
commercial real estate investment programs, including tenant-in-common (TIC)
programs for investors structuring tax-deferred (like-kind) exchanges under
Section 1031 of the Internal Revenue Code, non-traded public real estate
investment trusts (REITs), multi-member limited liability companies (LLCs) and
institutional investments. Through the Grubb & Ellis Wealth Management
program, Grubb & Ellis Realty Investors also offers high net worth investors a
comprehensive program to build or expand their commercial real estate
portfolio, whether their investment objectives are 1031 exchange driven or
not.
SOURCE Grubb & Ellis Realty Investors, LLC

Julia McCartney of Grubb & Ellis Realty Investors, LLC, +1-714-667-8252, ext.
230, julia.mccartney@grubb-ellis.com