Coldwell Banker Commercial Advisors DFW's founder Gary Walker is relinquishing the managing principal's role at the 34-employee firm as part of a planned transition and office expansion.
Walker will remain at the firm as founder and principal. Spearheading all management duties will be Steve Gray, who joined CBC Advisors DFW in May as managing principal.
"I love the real estate business, but I wanted to lessen my commitments. I chose to eliminate management so I could focus on brokerage and investments," Walker says. "I've spent years honing my skills in negotiations, sourcing and problem-solving for landlords, tenants and investors. That's what I enjoy the most."
Walker isn't retiring, but instead gaining more time for his family and its foundations; his brokerage team, which includes Renee Efimoff, J.P. Humphrey III and Shane Benner; and SkyWalker Property Partners, a private investment vehicle now sourcing properties for two funds.
"We appreciate Gary's contributions in building the Coldwell Banker Commercial brand and reputation within the DFW market. His efforts have been invaluable to the success of the firm. We look forward to further building upon his leadership and legacy as CBC Advisors continues to expand its platform and footprint under the leadership of Steve Gray in Greater Dallas and Theron Bryant in Fort Worth," says Rob Cord, the firm's president.
Walker is marking 30 years in the commercial real estate industry. Four years ago, he merged his flagship firm, SCM Real Estate Services Inc., with CBC Advisors, providing an immediate and well-established presence in Dallas/Fort Worth for the global CRE leader. In fact, this fall would have been SCM's 25th anniversary, the same year that he and Rosie got married.
"Gary's laid a strong foundation. We plan on expanding on what he's built in the marketplace," Gray says. "Currently, we are actively recruiting professionals for a Dallas office, our third in the region."
CBC Advisors DFW's headquarters will remain in the Vandergriff Building at 255 N. Center St. in Arlington. The Fort Worth office, now located at 1300 S. University Dr., will be relocated in the near future because it's outgrown its space in two operating years. Bryant, a principal, joined with Walker in 1992 and now leads the Fort Worth brokerage group.
"CBC Advisors DFW is in good hands with Steve and Theron," Walker emphasizes. "This move will give me more time in the market. When you're present in the market, you're closer to what it's doing and it also helps with sourcing opportunities."
Walker's transition has been quietly playing out internally. In preparation, Walker recently has relocated the SkyWalker Property Partners' team to 2,200 sf in the neighboring Vandergriff Town Center to free up headquarters space for CBC Advisors DFW's expansion. The initiative to step up hiring has landed Amanda Eller, formerly with Billingsley Co., as senior property manager for the CBC Advisors affiliate office.
"CBC Advisors DFW is planning to aggressively expand its business, brokers and staff. Through our corporate partner, we have a full-service platform in place to excel in this marketplace," Gray says, "and we intend to do just that. Gary is an integral part of the CBC Advisors organization and will be so for years to come."
CBC Advisors DFW currently manages and leases more than five million sf of office, retail and industrial properties in North Texas. Last year, Walker received a Platinum Circle of Distinction award at the corporate level while the local team overall was honored as the top office in North America in a category for affiliates with less than 15 brokers.