With Grubb for six years, he says now is the time to fulfill his goal of running his own shop. "Grubb & Ellis is great. It was just time to move on. It's the right time to be stepping out on my own and building my own company," Hipp tells GlobeSt.com.

The strong Washington, DC market was one factor that enabled him to make his decision. "It's been a good market." That good market also allowed him the flexibility to self-finance the venture.

At first, Hipp aims to focus what he knows, the net-lease environment, but he envisions a high-end investment boutique firm with specialists in various sectors including shopping centers, multifamily. "You can't be all things to all people. We're going to focus on what we know—what got us here. It's synergy."

He also anticipates establishing a national presence within the next six to 12 months. "Obviously, we're not going to be as big as a large firm, but we're much more entrepreneurial and will provide enhanced customer service." Particular areas of interest include the South, Northeast and the West Coast.

A nearly 20-year commercial real estate veteran, Hipp has completed more than $1 billion in transactions in his career. Prior to Grubb & Ellis Co., he was vice president with Adams Nelson and Associates, a regional commercial real estate firm.

Also joining the firm will be David Sobelman as business development director. Sobelman will be responsible for the growing operations of the firm and will offer a diverse background in real estate and executive level experiences. He is a former associate and research analyst with Grubb & Ellis before joining Calkain. He also served in prominent positions in the executive branch of the federal government, including with the White House.

"The net lease market will remain strong throughout 2005, and we expect it to remain an attractive investment class with interest rates remaining at the current low levels," Hipp adds. "We believe the timing is right for launching a real estate brokerage investment firm."

Instant Insights /

GlobeSt.com EXCLUSIVE: Hipp Forms Calkain Realty Advisors

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