"Although the past year has brought significant challenges, thecompany has accomplished a great deal, including the recentlycompleted recapitalization," D'Arcy says in a statement. "Thisplaces Grubb & Ellis in a strong position to expand itsleadership position in the commercial real estate industry,especially now while the market is in significant transition. Ibelieve Grubb & Ellis has an enormous opportunity to leveragets talent reach, proprietary research and local market expertise tocreate value for our shareowners, our clients and ouremployees."

"[D'Arcy] is an experienced and respected executive in thecommercial real estate industry and we are extremely pleased tohave him joining our company," says C. Michael Kojaian, chairman ofthe board of Grubb, in a statement. "With the recent completion ofthe company's recapitalization, we are confident that Tom willaccelerate the execution of Grubb & Ellis' growth strategy andbuild long-term value for stockholders."

This year has brought a lot of change to Grubb & Ellis asKojaiantook over the chairmanship from Glenn L. Carpenter, while GaryHunt continued as interim CEO after Scott D. Peters resigned in thesummer of 2008.

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