EXHIBIT 99.4

                              GRUBB & ELLIS COMPANY

                    UP TO [ ] SHARES OF COMMON STOCK OFFERED
                 PURSUANT TO RIGHTS DISTRIBUTED TO STOCKHOLDERS
                            OF GRUBB & ELLIS COMPANY

To Securities Dealers, Commercial Banks, Trust Companies and Other Nominees:

      This letter is being distributed to securities dealers,  commercial banks,
trust  companies and other  nominees in connection  with the offering by Grubb &
Ellis Company,  a Delaware  corporation (the "Company"),  of up to [ ] shares of
common stock (the "Common Stock"),  of the Company,  at a subscription  price of
___. __ __ per share,  pursuant to subscription  rights (the "Rights") initially
distributed  to  holders  of  record  of the  Common  Stock,  as of the close of
business on February 25, 2002 (the "Record  Date").  The Rights are described in
the Prospectus and are evidenced by a Subscription Rights Certificate registered
in your name or the name of your nominee.

      Each  beneficial  owner of shares of the Common Stock  registered  in your
name or the name of your nominee is entitled to [ENTER FRACTION] Right for every
one (1) share of the Common  Stock owned by such  beneficial  owner.  Holders of
Rights are entitled to purchase one (1) share of the Common Stock for each whole
Right.

      The Rights are non-transferable.

      We are asking  you to contact  your  clients  for whom you hold  shares of
Common  Stock  registered  in your name or in the name of your nominee to obtain
instructions  with respect to the Rights.  Enclosed are copies of the  following
documents:

      1.    The Prospectus;

      2.    The "Instructions As To Use of Subscription Rights Certificates" [OR
            SUBSCRIPTION CERTIFICATES];

      3.    A form  of  letter  which  may be sent to  your  clients  for  whose
            accounts you hold shares of the Company's common stock registered in
            your  name or the  name of our  nominee,  with  space  provided  for
            obtaining such clients' instructions with regard to the Rights;

      4.    A  Notice   of   Guaranteed   Delivery   for   Subscription   Rights
            Certificates; and

      5.    A return envelope  addressed to  Computershare  Trust Company of New
            York, the Subscription Agent.




      Your prompt action is requested.  The Rights will expire at 5:00 P.M., New
York City  Time on  [_____  __,  2002],  unless  extended  by the  Company  (the
"Expiration Date").

      To exercise the Rights,  a properly  completed  and executed  Subscription
Rights Certificate (unless the guaranteed delivery procedures are complied with)
and payment in full for all Rights  exercised must be delivered to Computershare
Trust Company of New York as indicated in the Prospectus prior to 5:00 P.M., New
York City Time on the Expiration Date.

      Additional  copies  of  the  enclosed   materials  may  be  obtained  from
Computershare  Trust Company of New York, the Information Agent. Their toll-free
telephone  number  is [(800)  INSERT]  or they may be  called  collect  at (212)
[INSERT].

                                              Very truly yours,

                                              GRUBB & ELLIS COMPANY




NOTHING HEREIN OR IN THE ENCLOSED  DOCUMENTS SHALL  CONSTITUTE YOU OR ANY PERSON
AS AN AGENT OF GRUBB & ELLIS COMPANY, THE SUBSCRIPTION AGENT OR ANY OTHER PERSON
MAKING OR DEEMED TO BE MAKING  OFFERS OF THE COMMON  STOCK  ISSUABLE  UPON VALID
EXERCISE  OF THE  RIGHTS,  OR  AUTHORIZE  YOU OR ANY  OTHER  PERSON  TO MAKE ANY
STATEMENTS  ON BEHALF OF ANY OF THEM WITH  RESPECT  TO THE  OFFERING  EXCEPT FOR
STATEMENTS MADE IN THE PROSPECTUS.




                          NOMINEE HOLDER CERTIFICATION

      The  undersigned,  a bank,  broker,  trustee,  depository or other nominee
holder of  subscription  rights  ("Subscription  Rights") to purchase  shares of
common  stock,  par value  $0.01 per share  ("Common  Stock"),  of Grubb & Ellis
Company (the "Company")  pursuant to the Rights Offering  described and provided
for in the  Company's  prospectus  dated  February __, 2002 (the  "Prospectus"),
hereby certifies to the Company and to Computershare  Trust Company of New York,
as Subscription Agent for the Rights Offering, that:

      (1)   the  undersigned  has  subscribed for the number of shares of Common
            Stock specified below pursuant to the Basic  Subscription  Privilege
            (as described in the  Prospectus) on behalf of beneficial  owners of
            Subscription   Rights  who  have  subscribed  for  the  purchase  of
            additional shares of Common Stock pursuant to the  Over-Subscription
            Privilege (as described in the Prospectus), listing separately below
            each  such   exercised   Basic   Subscription   Privilege   and  the
            corresponding  Over-Subscription  Privilege (without identifying any
            such beneficial owner); and

      (2)   each  such  beneficial   owner   exercising  its   Over-Subscription
            Privilege has exercised its Basic Subscription Privilege in full.

                           NUMBER OF SHARES
                           SUBSCRIBED FOR PURSUANT   NUMBER OF SHARES
NUMBER OF SHARES           TO BASIC SUBSCRIPTION     SUBSCRIBED FOR PURSUANT TO
OWNED ON THE RECORD DATE   PRIVILEGE                 OVER-SUBSCRIPTION PRIVILEGE
------------------------   -----------------------   ---------------------------

1. _____________________   _______________________   ___________________________

2. _____________________   _______________________   ___________________________

3. _____________________   _______________________   ___________________________

4. _____________________   _______________________   ___________________________

5. _____________________   _______________________   ___________________________



____________________________________________________________
Name of Bank, Broker, Trustee, Depository or Other Nominee

By: ___________________________________
           Authorized Signature

Name: _________________________________
          (please type or print)