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TULSA-Following a 15-year stint with CBRE, Jeff Cox joined Stan Johnson Co. as chief operating officer. Cox relocated from Dallas to take the local position, which became effective Nov. 5.
In his new position, the 25-year commercial real estate veteran will oversee Stan Johnson Co.’s operations while working with company CEO Stan Johnson on the firm’s strategic direction. Stan Johnson Co.’s focus involves net-leased properties, and since 2008, the company has been in expansion mode. These days, Stan Johnson Co. has offices in Atlanta, Chicago, Houston, Los Angeles, New York and San Francisco.
Cox, who most recently served as CBRE’s senior managing director and alliance director of health care services, says he was approached for the job by an outside recruiter, and as he moved deeper through the interview process, he recognized that Stan Johnson Co.’s core values were those he followed. That, combined with the company’s reputation and growth, convinced Cox that the move would be a good one for him.
Cox also says the skill set honed at CBRE transfers nicely to his new position. “In the role of alliance director, I was responsible for overseeing operations of Baylor Healthcare Systems’ real estate organization,” he explains. “That included all service lines; human resources, finance, marketing and strategic planning.”
He tells GlobeSt.com that his role at Stan Johnson Co. is similar. “But what it does is allow me to apply those skills to a company with a dynamic growth forecast and specialized focus, which is of unique interest to me,” he says.
Stan Johnson Co.’s expansion comes at a time during which net leased properties are of interest to commercial real estate investors. Panelists at the recent RealShare Net Lease West Conference pointed out that deal momentum is starting to build, partially due to lower inventory as well as low-interest rate financing. The panelists also focused on stabilized cap rates as a potential factor for pent-up demand.
Cox, who earned his master’s degree in finance and business policy from the University of Chicago, notes that net lease is proving to be a good financial instrument, as it’s underwritten by “fundamentally strong real estate driven by location and credit tenants.” As such, net lease assets offer better returns than what the bond market offers, he adds.
That’s the macro level. On the micro level, i.e., where Stan Johnson Co. goes from here, Cox says the next expansion wave isn’t so much breadth as it is depth. “Stan is making major investments in those key markets, providing access to an increased talent pool and taking us closer to existing as well as prospective customers,” Cox observes. “Growth is a natural byproduct of the plan that’s already in place, and as the net lease sector remains dynamic, our growth will continue.”