Exhibit 99.1
 FIRST LETTER AMENDMENT
 Dated as of August 4, 2008
 
 Grubb & Ellis Company Credit Facility
  Credit Agreement Borrower Administrative
Agent Lender Parties
  Amendments to Credit Agreement
 Applicable Margin
 Debt for Borrowed Money
  Permitted TIC Syndication




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TIC Debt Service Coverage Ratio less provided however
   provided
   Effectiveness of Amendment Amendment Amendment Effective Date
 2




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Ratification
 Costs and Expenses
 Counterparts
 Governing Law
 [Balance of page intentionally left blank]
 3




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Very truly yours,GRUBB & ELLIS COMPANY,as BorrowerBy
    /s/ Richard W. PehlkeRichard W. PehlkeExecutive Vice President and Chief Financial Officer [SIGNATURES CONTINUE ON FOLLOWING PAGES]
 S-1




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Agreed as of the date first above written:DEUTSCHE BANK TRUST COMPANY AMERICAS,as Administrative Agent, a Lender, Issuing Bankand Swing Line BankBy
    /s/ James RolisonName:
    James RolisonTitle:
    Managing DirectorBy
    /s/ Linda WangName:
    Linda WangTitle:
    Director [SIGNATURES CONTINUE ON FOLLOWING PAGES]
 S-5




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JPMORGAN CHASE BANK, N.A.,as a LenderBy
    /s/ Amy S. ApplebaumName:
    Amy S. ApplebaumTitle:
    Vice President S-5




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KEYBANK NATIONAL ASSOCIATION,as a LenderBy
    /s/ Robert C. AvilName:
    Robert C. AvilTitle:
    Senior Vice President S-5




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FIFTH THIRD BANK,as a LenderBy
    /s/ Matthew D. RodgersName:
    Matthew D. RodgersTitle:
    VP S-5




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CONSENT
 Dated as of August 4, 2008
  GRUBB & ELLIS AFFILIATES, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS AFFILIATES, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS MANAGEMENT SERVICES, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS OF ARIZONA, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS ASSET SERVICES COMPANYBy
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial Officer ( Signatures continued on next page)
 C-1




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GRUBB & ELLIS CONSULTING SERVICES COMPANYBy
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS INSTITUTIONAL PROPERTIES, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS OF MICHIGAN, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS MORTGAGE GROUP, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS OF NEVADA, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS NEW YORK, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial Officer ( Signatures continued on next page)
 C-1




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GRUBB & ELLIS ADVISERS OF CALIFORNIA, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS SOUTHEAST PARTNERS, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerHSM INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerWM. A. WHITE/GRUBB & ELLIS INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerLANDAUER HOSPITALITY INTERNATIONAL, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerLANDAUER SECURITIES, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial Officer ( Signatures continued on next page)
 C-2




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GRUBB & ELLIS MANAGEMENT SERVICES OF MICHIGAN, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerGRUBB & ELLIS EUROPE, INC.By
    /s/ Richard W. PehlkeRichard W. PehlkeChief Financial OfficerNNN REALTY ADVISORS, INC.By
    /s/ Andrea R. BillerAndrea R. BillerExecutive Vice PresidentGRUBB & ELLIS REALTY INVESTORS, LLCBy
    /s/ Andrea R. BillerAndrea R. BillerExecutive Vice PresidentTRIPLE NET PROPERTIES REALTY INC.By
    /s/ Jeffrey T. HansonJeffrey T. HansonChief Executive OfficerGRUBB & ELLIS RESIDENTIAL MANAGEMENT INC.By
    /s/ Francene LaPointFrancene LapointChief Financial Officer C-3