1031 Alternatives Group Leading TIC Sponsor, Triple Net Properties Becomes a Publicly Traded Company upon Completing Merger with Grubb & Ellis Company

1031 Alternatives Group’s leading Tenant In Common (TIC) real estate sponsors Triple Net Properties and its parent company NNN Realty Advisors took over 50-year old Grubb & Ellis Company in a reverse merger to become the first publicly traded TIC Corporation. The merger was completed on December 10, 2007 as the result of Grubb & Ellis and NNN Realty Advisor majority shareholder approval.

The deal transpired in May when Grubb & Ellis agreed to merge with NNN Realty Advisors through a stock swap deal that gave NNN Realty Advisors’ stockholders 59% interest in the new company. Grubb & Ellis issued 0.88 shares of common stock for each outstanding share of NNN Realty Advisors common stock. The combined company has retained the name Grubb & Ellis Company and relocated its international headquarters from Chicago, IL to Santa Ana, CA. Grubb & Ellis will remain listed on the New York Stock Exchange under the ticker symbol “GBE”.

“The merger combines one of the largest and most recognized real estate investment services providers with one of the most innovative and successful sponsors of real estate investment programs, creating a new Grubb & Ellis poised to pursue growth and to provide a broader range of services to a global client base,” said newly appointed Grubb & Ellis President and CEO Scott D. Peters. “This merger combines two complementary firms to create a new company that is greater than the sum of its parts.”

Peters added, “Grubb & Ellis has exceptional name recognition and a nationwide presence. NNN Realty Advisors’ investment platforms can leverage the Grubb & Ellis brand and maximize the traditional services offered by the company. Together, the new Grubb & Ellis is a greater, stronger and more dynamic company.”

Tony Thompson the new chairman of Grubb & Ellis and original pioneer of the Tenant In Common (TIC) industry added, “The merger with NNN Realty Advisors is a transformational event in the 50-year history of Grubb & Ellis. This is essentially the creation of a new company that is equipped to pursue both domestic and international growth in order to better serve our clients and investors throughout the globe.”

About Grubb & Ellis Company

Grubb & Ellis Company (NYSE – “GBE”) is one of the largest and most respected commercial real estate services 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, 2007, nearly $3 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 214 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.