BGC To Complete Acquisition of Grubb & Ellis Company

Transaction Creates Game-Changing Platform As BGC Continues to Build Premier Position in Commercial Real Estate

NEW YORK – March 27, 2012 – BGC Partners, Inc. (NASDAQ: BGCP) (“BGC”), a leading global
brokerage company, today announced that it has received approval from the U.S. Bankruptcy Court for
the Southern District of New York to acquire substantially all the assets of Grubb & Ellis Company
(OTC: GRBEQ) (“Grubb & Ellis”).  BGC expects to close the transaction shortly.

The combination of the two companies will give Newmark Knight Frank and Grubb & Ellis more than
100 offices in North America, 250 million square feet in Property and Facilities Management, and a
national Appraisal business.

“As we welcome the Grubb & Ellis team to the BGC family, we intend to apply our financial strength,
powerful proprietary technology, and deep marketplace relationships to provide Grubb & Ellis and its
professionals with the resources they need to thrive and grow,” said Howard W. Lutnick, Chairman and
Chief Executive Officer of BGC.  “Alongside Newmark Knight Frank, the acquisition of Grubb & Ellis
creates a game-changing platform that further positions BGC as one of the most innovative and dynamic
players in commercial real estate.  As BGC continues to attract the best talent, invest in our world-class
technology, and apply capital to build and expand into new markets, we are committed to providing
Grubb & Ellis with the right tools and support to increase its strength and scale.”

Michael Lehrman, Global Head of Real Estate at BGC, said, “The expansion of BGC’s commercial real
estate platform creates exciting new opportunities for our entire organization – including the talented
Grubb & Ellis real estate professionals who are coming on board, as well as new opportunities for them to
provide outstanding value to their clients.  Together we are creating one of the most exciting platforms in
the real estate market, one that is well positioned to deliver the unwavering service excellence that our
clients expect, while enhancing opportunities for our brokers and employees.”

“With Newmark Knight Frank’s strategic consultative approach to creating value for clients and leading
position in the New York market, along with Grubb & Ellis’ strength in transactional, management, and
valuation services, our two organizations are highly complementary,” said Barry M. Gosin, Chief
Executive Officer of Newmark Knight Frank.  “We share a client-focused culture, and together, Grubb &
Ellis and Newmark Knight Frank create a powerhouse in real estate with a significant competitive
advantage, built upon the foundation of BGC’s proven and powerful model.”

James D. Kuhn, President of Newmark Knight Frank, said “Since becoming part of BGC last fall,
Newmark Knight Frank has benefited substantially from BGC’s capital strength, proprietary technologies,
and relationships with the world’s leading financial institutions and other organizations.  The addition of
Grubb & Ellis will dramatically increase our footprint and expand our business lines, including Grubb &
Ellis’ prominent industrial practice.  We are firm in our conviction that Grubb & Ellis will deepen its
capabilities, attract the best talent, and deliver outstanding performance just as Newmark Knight Frank
has as part of the BGC platform.  Many of the Grubb & Ellis business lines including the hotel, multi-
family, private client investment sales, and the financial asset strategic management groups, will enhance
our Capital Markets program.”

The transaction was implemented as an asset sale under Section 363 of the U.S. Bankruptcy Code.

Cantor Fitzgerald & Co., an affiliate of Cantor Fitzgerald, L.P. acted as a financial adviser to BGC in
connection with this transaction.

About BGC Partners

BGC Partners, Inc., a leading global brokerage company primarily servicing the wholesale financial
markets, has over 4,000 employees in New York, London and more than 30 other major financial centers
around the world, and conducts over $200 trillion in financial transactions for customers annually. BGC
offers customers over 220 products, including commercial real estate, fixed income securities, interest
rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and
structured products.

BGC’s technology helps customers determine the value of a transaction and execute transactions at the
best possible price.  BGC’s customers include many of the world’s largest banks, hedge funds,
governments and investment firms. Trades are executed through BGC’s brokers, or through its hybrid and
fully electronic brokerage services.

BGC, named after fixed income trading innovator B. Gerald Cantor, also offers financial technology
solutions, market data, and analytics through its eSpeed, BGC Trader, and BGC Market Data brands, and
provides clearing, processing, and other support services. For more information, please visit

About Newmark Knight Frank

A part of BGC Partners, Inc., Newmark Knight Frank is one of the largest commercial real estate service
firms in the U.S. Headquartered in New York, Newmark Knight Frank and London-based partner Knight
Frank together operate from more than 240 offices in established and emerging property markets on five
continents. With a combined staff of more than 7,000, this major force in real estate is meeting the local
and global needs of tenants, owners, investors and developers worldwide. For more information, please

About Grubb & Ellis

Grubb & Ellis Company is one of the nation’s leading commercial real estate services firms, providing
transaction services, property management, facilities management and valuation services.  Grubb & Ellis
professionals draw from a unique platform of services and practice groups to deliver integrated solutions
to real estate owners, tenants and investors, supported by highly regarded proprietary market research,
best-in-class processes and extensive local expertise.  For more information, visit

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