Thomas Properties Group To Manage Leasing For 816 Congress In Downtown Austin

AUSTIN, Texas – July 22, 2009 – Citing the firm’s commercial leasing experience and its successful downtown office portfolio, Grubb & Ellis Realty Investors, LLC is turning to Thomas Properties Group, Inc. (Nasdaq: TPGI) to manage tenant leasing at 816 Congress, a recently updated class-A office tower in downtown Austin.

“Thomas Properties Group is one of the leading leasing firms in Austin and we are pleased to partner with them,” said Rick Burnett, executive vice president of asset management with Grubb & Ellis Realty Investors. “TPG has an experienced team that is well connected to what’s happening in downtown Austin, and they have a strong reputation negotiating win-win transactions.” Grubb & Ellis Realty Investors will continue to manage the property.

816 Congress is a 20-story commercial building completed in 1983 (renovated in 1994 and 2008) with a total of 433,000 square feet at the southwest corner of 9th St. and Congress Ave., just two blocks from the Texas State Capitol and the adjacent Capitol Complex. The building features unmatched views of the Capitol as well as the University of Texas at Austin campus, with abundant restaurants and entertainment venues in close proximity.

In 2008, Grubb & Ellis Realty Investors completed a $2 million renovation of common spaces designed by STG Architects, including a new lobby and plaza with large-scale installations from noted artists Harold Roach and Barbara Strasen. Grubb & Ellis Realty Investors also invested another $8 million in tenant improvements.

“These renovations have helped restore 816 Congress to its rightful place as a one of the premier class-A assets in the heart of the CBD,” said Andrew Smith, managing director of leasing for Thomas Properties Group in Austin. “The investment Grubb & Ellis Realty Investors has made in the building, combined with its stellar location, impressive views and convenient amenities, makes it an ideal building for a variety of professional firms.”

The building provides 24-hour security, covered parking, a large conference room, a fitness center with showers and a dressing area, a landscaped plaza, overnight drop boxes, a mailroom, a deli, six high-speed passenger elevators and a full-service bank. In 2003, the property was recognized with an EnergyStar Award by the U.S. Environmental Protection Agency and the U.S. Department of Energy.

Lead tenants include Lloyd Gosselink Rochelle & Townsend P.C., the U.S. Attorney’s Office and Teacher Retirement System of Texas which, in a recently announced lease, is taking approximately 47,000 square feet of office space on the 13th and 14th floors.

The building currently has contiguous space for lease of up to 30,000 square feet on the 17th and 18th floor.

Thomas Properties Group’s Andrew Smith and Mark Miller will represent the building, adding to their firm’s portfolio of downtown Austin class-A properties, which include the Frost Bank Tower, One America Center, One Congress Plaza, 300 West 6th Street and San Jacinto Center.

About Thomas Properties Group
Thomas Properties Group, Inc., based in Los Angeles, is a full-service real estate company that owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties on a nationwide basis. The company's primary areas of focus are the acquisition and ownership of premier properties, both on a consolidated basis and through its strategic joint ventures, property development and redevelopment, and property management and leasing activities. For more information about Thomas Properties Group, Inc., please visit www.tpgre.com.

About Grubb & Ellis Realty Investors, LLC
Grubb & Ellis Realty Investors, LLC is the real estate investment and asset management subsidiary of Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm. Grubb & Ellis Realty Investors and affiliates manage a growing portfolio of assets valued in excess of $6.8 billion located throughout 33 states. One of the nation’s most active buyers and sellers of commercial real estate, Grubb & Ellis Realty Investors has completed acquisition and disposition volume totaling more than $11.5 billion on behalf of program investors since its founding in 1998; in excess of $8.5 billion of this volume has been transacted since Jan. 1, 2005. For more information on Grubb & Ellis Realty Investors, visit www.gbe-realtyinvestors.com.

Forward-Looking Statements
Statements made in this press release that are not historical may contain forward-looking statements. Although Thomas Properties Group believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. Factors that could cause actual results to differ materially from Thomas Properties Group's expectations include actual and perceived trends in various national and economic conditions that affect global and regional markets for commercial real estate services, including interest rates, the availability of credit to finance commercial real estate transactions, and the impact of tax laws affecting real estate. For a discussion of some of the factors that may cause our results to differ from management's expectations, see the information under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations - Factors That May Influence Future Results of Operations" in our 10-K for the year ended December 31, 2008, and contained in our reports on Form 10-Q for fiscal quarters during 2009, which have been filed with the SEC. Thomas Properties Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contact:

Brian Dolezal
TateAustinHahn for Thomas Properties Group
512-344-2035 or 619-6742
bdolezal@tateaustinhahn.com