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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 4, 1996
GRUBB & ELLIS COMPANY
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(Exact name of registrant as specified in its charter)
DELAWARE 1-8122 94-1424307
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(State of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
One Montgomery Street, Telesis Tower, San Francisco, California 94104
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(Address of principal executive offices) (Zip Code)
(415) 956-1990
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(Registrant's telephone number, including area code)
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(former name or former address, if changed since last report)
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Item 5. OTHER EVENTS.
On December 4, 1996, Grubb & Ellis Company, a Delaware corporation,
issued a press release, a copy of which is attached hereto as Exhibit 99.1. The
information contained in such press release is incorporated by reference herein
in its entirety.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) The following exhibit is filed as part of this Report:
99.1 Press Release of Grubb & Ellis Company dated December 4, 1996.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: December 9, 1996
GRUBB & ELLIS COMPANY
By: /s/ Robert J. Walner
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Name: Robert J. Walner
Title: Senior Vice President and General
Counsel
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EXHIBIT INDEX
Exhibits.
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99.1 Press Release of Grubb & Ellis Company dated December 4, 1996.
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EXHIBIT 99.1
LOGO GRUBB & ELLIS
NEWS RELEASE
Contact: Mark R. Friedlander
Grubb & Ellis Company
847/390-8050, ext. 688
FOR RELEASE AT 8 A.M. EST ON WEDNESDAY, DECEMBER 4, 1996
GRUBB & ELLIS ANNOUNCES RELOCATION
OF CORPORATE HEADQUARTERS TO CHICAGO
SAN FRANCISCO, Dec. 4, 1996 -- Grubb & Ellis Company (NYSE:GBE), one of the
nation's largest publicly traded full-service commercial real estate firms,
announced today that it will be moving its Corporate headquarters from San
Francisco to Chicago early next year. The entire relocation is expected to be
completed by March 31, 1997.
The firm's San Francisco commercial brokerage operation will not be
impacted by the Corporate Office relocation.
"We have given this move much consideration. We feel the long-term
interests of Grubb & Ellis are best served by having better access to our client
base," said Neil Young, president and chief executive officer, Grubb & Ellis. A
majority of the firm's corporate and institutional clients are based in the
Eastern and Midwestern regions of the United States.
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"We are building a team of national accounts headed up by Steve Scruggs,
our new president of Corporate and Institutional Services," Young added.
"Having all of our support operations in Chicago will help us build this segment
of our business much quicker.
"In order for our company to continue to grow and become a premier global
firm, we need to strengthen our corporate and institutional business
throughout the United States. Our more central location will allow us to
have excellent access to all of our clients and all local Grubb & Ellis
offices."
Young said the firm's San Francisco-based Corporate employees have been
offered the opportunity to relocate to Chicago. The Company will provide
outplacement services to those employees who decide not to move.
"Many of our current Corporate employees were with us when our business
suffered through a down cycle," Young said. "We hope all of them will be with
us as we move forward."
The costs associated with the relocation are expected to be approximately
$2 million.
Grubb & Ellis has nearly 3,000 sales associates and staff nationwide.
Through its 87 offices in 60 cities, Grubb & Ellis services every major
American metropolitan area. In 1995, the firm completed over 12,000
transactions valued in excess of $9 billion.
Through its wholly owned subsidiary, Axiom Real Estate Management, Inc.,
Grubb & Ellis provides traditional third-party property management and
facilities management services. Grubb & Ellis/Axiom currently manages nearly 80
million square feet of commercial space nationwide.
