NEW YORK - The bankruptcy judge presiding over the Chapter 11 proceeding of bankrupt realtor Grubb & Ellis Co. in the U.S. Bankruptcy Court for the Southern District of New York on March 27 approved the sale of the company's assets to BGC Partners Inc. for $54.5 million (In Re: Grubb & Ellis Company, No. 12-10685, Chapter 11, S.D. N.Y. Bkcy.).