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Grubb & Ellis Agrees to Sell Itself in Bankruptcy Case

Grubb & Ellis Co., a U.S. real estate services company, filed for bankruptcy protection and agreed to sell almost all its assets to BGC Partners Inc.

The company yesterday listed $150 million in assets and $167 million in debt in a Chapter 11 filing in U.S. Bankruptcy Court in New York. The company said it completed about 12,000 sale and lease transactions last year and manages more than 250 million square feet of property.