Gosnell says he's doing "double duty" with both companies for the next month, then he'll move to Quantum full-time by mid-November. Gosnell joins Quantum partners Augustine Gomez, Ryan Kealy, Chris Barr and Dave Cornwall in his new endeavor.

Gosnell, who has also held the title of president and CEO at Lee & Associates at one time, says Quantum Capital's associates, one of whom he had hired for Lee & Associates in the early 1990s, approached him with the job offer. "They said they were buying up residential land and commercial properties and they wanted me to handle the commercial side," he says.

Gosnell will have a partnership interest in Quantum Capital and will focus on acquiring distressed commercial assets. "I'll be looking at improved commercial properties and be dealing with banks to possibly buy their notes or properties," he tells GlobeSt.com, adding that Quantum Capital's investors will dictate the investment parameters.

Gosnell adds that the move was logical due to his longevity in the industry. "When I went through the financial crisis in the early 1990s, I was on the receiving end of the problems. I was constantly looking through my rear-view mirror," he says. "This time, I can look ahead. I have a clear windshield and can take advantage of the opportunities and circumstances. This time, I wanted to be on the other side."

Gosnell launched Lee & Associates' Phoenix office in 1991. A statement issued by Jim Watkins, managing principal in Lee's Phoenix office about Gosnell's move says the company will miss his presence and leadership. "Given his role at Quantum, our alliance will simply take on a different role as he moves from the brokerage side to the investment side of our industry. We look forward to working with him in this latest dimension of his successful career," Watkins says in the press release.

Prior to founding the local Lee & Associates' office, Gosnell worked for Grubb & Ellis Co., launching its Phoenix office in 1973. For Grubb & Ellis and Lee & Associates, he launched their first offices outside California. During his 35 years in the real estate market, Gosnell has been directly involved in more than $1 billion of commercial property transactions.