"I am looking at a bunch of different possibilities but haven't really made my decision on what I am going to do next," Peddicord tells GlobeSt.com. "I really wanted to focus on going one step at a time, and that is what I have done."

Arden and Peddicord both say that his departure is unrelated to Arden's announcement this week that it is launching a national expansion platform, and it's only coincidence that the two events occurred so close together. "I've had a great career at Arden, and I'm leaving at a good time when the company is in good hands," he says.

GlobeSt.com asked Peddicord if he is likely to be working with either Arden founder Richard Ziman or former Arden president and COO Victor Coleman, both of whom are now involved in commercial real estate investment funds. "That's a logical question because I have a great relationship with both Dick and Victor, but nothing has been considered at this point," Peddicord says.

Whether he will choose to go with a small, entrepreneurial company or a larger corporate entity is also one of the questions he is considering, Peddicord says. "Both of those possibilities are attractive to me. I need to evaluate where the opportunities are both now and five years down the road and 10 years down the road. I haven't pinpointed whether I want to go with a smaller company and build it or be part of a larger organization and build on it."

According to Arden president and CEO Joaquin de Monet, Peddicord will remain with Arden to support the leadership team through the end of September of this year. "Robert has been a great colleague for all of us at Arden and will be missed. He has helped build a strong foundation and a team of outstanding leaders," de Monet commented in a statement.

Peddicord joined Arden in 1997 as a leasing manager under Ziman and Coleman, assuming several management positions throughout the years. His leadership role at Arden culminated with the position of COO when Arden was acquired by General Electric in May of 2006.

Since then, Peddicord has been a key member of the team that executed Arden's expansion into new West Coast markets. He describes the Arden he is leaving as "a unique and evolving company" with a national growth platform and joint venture focus that signal a promising new chapter for the West Los Angeles-based firm.