That's why two questions immediately come to mind: Why keep theGrubb name, and where will the former company's CEO, Mark Rose, endup? Officials with NNN tell GlobeSt.com that they'll keep Grubb,but won't comment on Rose's future there.

Tuesday, the two companies announced their planto form a company with a total capitalization of $725 million. NNNRealty Advisors, the parent company of Triple Net Properties (thesponsor of funds and REITs), Triple Net Properties Realty Inc. (thebrokerage company) and NNN Capital Corp. (the broker/dealer), willnow operate using the Grubb & Ellis name. However, the newcompany will operate out of Santa Ana, and the new board willinclude three members nominated by Grubb & Ellis and sixmembers nominated by NNN. Specifically, Anthony W. Thompson,founder and chairman of the board of NNN Realty Advisors, will joinGrubb & Ellis as chairman of the board. C. Michael Kojaian,chairman of the Grubb & Ells board, will remain on the board.Scott D. Peters, president and CEO of NNN, will join the board andwill become CEO of the combined firm.

Rose came over to Grubb & Ellis in March 2005, when he lefthis job as chief operating officer at Jones Lang LaSalle, andsubsequently brought over a number of JLL employees to thebrokerage firm. Though Rose has been trumpeting a five-yearrepositioning plan, it's been rumored by company insiders in pastmonths that his main job has been to position the company forsale.