8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    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):
                                OCTOBER 24, 1994



                              GRUBB & ELLIS COMPANY
             (Exact name of registrant as specified in its charter)




     DELAWARE                1-8122                       94-1424307
  (State or other          (Commission                  (I.R.S. Employer
  jurisdiction of          File Number)                 Identification No.)
  incorporation)




ONE MONTGOMERY STREET
TELESIS TOWER
SAN FRANCISCO, CA                                        94104
(Address of principal executive offices)                 (Zip Code)


                                 (415) 956-1990
              (Registrant's telephone number, including area code)

                                       N/A
          (Former Name or Former Address, if Changed Since Last Report)




Item 5.   OTHER EVENTS

          On October 24, 1994, Grubb & Ellis Company issued the press release
          attached hereto as Exhibit 1.1, which is incorporated herein by
          reference.

Item 7.   FINANCIAL STATEMENTS AND EXHIBITS

     (c)  The following exhibit is filed as part of this Report:

         1.1   Press Release of Grubb & Ellis Company dated October 24, 1994.



                                   SIGNATURES

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.


                                   GRUBB & ELLIS COMPANY
                                   (Registrant)


Date:  October 25, 1994       By:  /s/ Robert J. Hanlon, Jr.
                                   Chief Financial Officer



                                  EXHIBIT INDEX


       Exhibit                                                          Page No.
       -------                                                          --------

           1.1      Press Release of Grubb & Ellis Company dated October 24,
                    1994

EX-1.1

                                   Exhibit 1.1


NEWS RELEASE
- - -------------------------------------------------------------------------------
                        Contact: Molly Davis, Gallen & Associates (415) 268-9848
CONTACT:
- - -------------------------------------------------------------------------------

     FOR IMMEDIATE RELEASE                                      October 24, 1994

     GRUBB & ELLIS ANNOUNCES THIRD QUARTER PROFIT

     SAN FRANCISCO -- Grubb & Ellis Company (NYSE:GBE) reported pre-tax income
     of $685,000 and net income of $584,000 on gross revenues of $47.2 million
     for the third quarter 1994.  The third quarter 1994 profit compares
     favorably to a pre-tax loss of $538,000 and a net loss of $638,000 on gross
     revenues of $50.9 million for the third quarter of 1993.

     Excluding those activities which, at the end of 1993, had been closed or
     were expected to close, third quarter 1994 gross revenues increased 7.3%
     over comparable third quarter 1993 revenues of $43.9 million.  Third
     quarter pre-tax income of $685,000 included a favorable adjustment of
     $519,000 related to special charges and unusual items recorded in the prior
     year.

     The third quarter profit marks the first time since 1989 that the company
     has reported two consecutive profitable quarters.  Historically the
     company's weakest quarter is the first quarter, and the last quarter is its
     strongest.  This trend is expected to continue this year.  Year to date,
     the company reported a net loss of $3.0 million, or $1.18 per common share,
     compared to a net loss of $4.8 million, or $1.61 per common share, for the
     same period in 1993.

     The company recorded a third quarter loss of $.02 per common share, taking
     into effect accrued dividends of $658,000 earned on redeemable convertible
     senior and junior preferred stock for the quarter.  If converted, the
     preferred stock will be exchanged for common stock and accrued dividends
     will no longer be payable.

     With offices nationwide, Grubb & Ellis Company meets the real estate needs
     of corporate users, institutional and private investors, providing real
     estate brokerage and consulting, property and facilities management
     (through its Axiom subsidiary), appraisal, mortgage brokerage and auction
     services.