"We have had provisions for a changing of the guard in processfor a couple years," J. Mikel Reynolds, principal of the new firm,tells GlobeSt.com. "It wasn't so much as everyone leaving as we'veorganized as a separate company." The new firm's principals includeLeigh C. Richter, this year's president of the CREW Dallas chapter,and Richard Lapp, who have 25 years and 35 years in the business,respectively, and Charles Hicks, a long-time client of Joe FosterCo. Hicks, sporting 37 years' experience, is a residential lotdeveloper, with projects at Lake Ray Hubbard in Garland and BayIsland of Roatan in the Caribbean Sea off the northern coast ofHonduras. Now as before, Hicks will concentrate on developmentrather than brokerage, according to Reynolds.

"The new name is on the office door and our telephones, butthat's about it," Reynolds says. "Our business cards come inWednesday." The office remains rooted in 5,700 sf at 8401 N.Central Expressway.

[IMGCAP(2)]Richter Reynolds & Lapp is starting with eightseasoned brokers in investments, land and financing. The rest ofthe team includes Hank Schlachter, James Struble, Buddy Hayden andBruce Harbour, all senior vice presidents, and Frank Cole as anassociate.