"I'm not retiring and I'm not going into business for myself," Quinlan says. "I am reviewing several potential [corporate] opportunities that have been offered me recently and hope to make a decision in a few weeks."

Roberts says Quinlan and the company's directors "mutually agreed" on Quinlan's resignation. Roberts says Quinlan will work with the company's independent auditors and outside legal counsel to complete the filing to the Securities and Exchange Commission of the company's annual report on Form 10-K, and the firm's federal and state tax returns.

Roberts says the company is searching for Quinlan's replacement. Although Quinlan has only been with Roberts Realty for a year, he participated in all of the company's major acquisitions in 2005, according to GlobeSt.com research.

For example, in November 2005 the company bought the 30,050-sf Spectrum shopping center directly across from the 1.9-million-sf Mall of Georgia in Gwinnett County for $8.4 million. The $279.53-per-sf price is believed by area brokers to be a near-record for a comparable retail property, as Globest.com previously reported.

In 2005, the company also purchased Grand Pavilion, a 62,323-sf retail center in suburban Alpharetta, and Bassett Shopping Center, a 19,949-sf center in Gwinnett County. Roberts Realty also invested $32 million for the acquisition of 14.5 acres of investment property zoned for 217 residential units in the Westside mixed-use development in Alpharetta, and 22 acres of undeveloped land zoned for 154 residential units in Cumming. GlobeSt.com previously reported all of the transactions.