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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 hvow1gxWTJg64+qJSLKERg==

<SEC-DOCUMENT>0001209191-08-012523.txt : 20080222
<SEC-HEADER>0001209191-08-012523.hdr.sgml : 20080222
<ACCEPTANCE-DATETIME>20080222162754
ACCESSION NUMBER:		0001209191-08-012523
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080222
FILED AS OF DATE:		20080222
DATE AS OF CHANGE:		20080222

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRUBB & ELLIS CO
		CENTRAL INDEX KEY:			0000216039
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
		IRS NUMBER:				941424307
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		500 WEST MONROE STREET
		STREET 2:		SUITE 2800
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60661
		BUSINESS PHONE:		3126986700

	MAIL ADDRESS:	
		STREET 1:		500 WEST MONROE STREET
		STREET 2:		SUITE 2800
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60661

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PEHLKE RICHARD W
		CENTRAL INDEX KEY:			0001243139

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08122
		FILM NUMBER:		08636662

	BUSINESS ADDRESS:	
		STREET 1:		C/O HUDSON HIGHLAND GROUP INC
		STREET 2:		622 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2129774200

	MAIL ADDRESS:	
		STREET 1:		C/O HUDSON HIGHLAND GROUP, INC.
		STREET 2:		622 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER NAME:	
		FORMER CONFORMED NAME:	PEHIKE RICHARD W
		DATE OF NAME CHANGE:	20030617
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>boc24206_01rwp.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-02-22</periodOfReport>

    <issuer>
        <issuerCik>0000216039</issuerCik>
        <issuerName>GRUBB &amp; ELLIS CO</issuerName>
        <issuerTradingSymbol>GBE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001243139</rptOwnerCik>
            <rptOwnerName>PEHLKE RICHARD W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O GRUBB &amp; ELLIS COMPANY</rptOwnerStreet1>
            <rptOwnerStreet2>1551 N. TUSTIN AVE., SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>SANTA ANA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92705</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP and CFO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01</value>
            </securityTitle>
            <transactionDate>
                <value>2008-02-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>6.17</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>82500</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Non-qualified Stock Option</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>11.75</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-02-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>25000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>25000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 75,000 restricted shares of Grubb &amp; Ellis Company's Common Stock that were awarded to Mr. Pehlke pursuant to the Grubb &amp; Ellis Company 2006 Omnibus Equity Plan which will vest in equal thirty-three and one-third percent (33 1/3%) installments on each of the first, second, and third anniversaries of the grant date (January 24, 2008). On January 24, 2008, the date of the grant of restricted shares awarded to Mr. Pehlke, the closing price for Grubb &amp; Ellis Company Common Stock was $4.41.</footnote>
        <footnote id="F2">25,000 options were granted to Mr. Pehlke pursuant to the terms and conditions of that certain Stock Option Agreement, dated as of February 15, 2007, by and between Grubb &amp; Ellis Company and Richard W. Pehlke, and are subject to the terms and conditions of the Grubb &amp; Ellis Company 2006 Omnibus Equity Plan.</footnote>
        <footnote id="F3">The options reported hereunder vest in equal thirty-three and one-third percent (33 1/3%) installments on the last business day before each of the first, second and third anniversaries of February 15, 2007.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Richard W. Pehlke</signatureName>
        <signatureDate>2008-02-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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