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

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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 early1990s, approached him with the job offer. "They said they werebuying up residential land and commercial properties and theywanted me to handle the commercial side," he says.

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

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

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Gosnell launched Lee & Associates' Phoenix office in 1991. Astatement issued by Jim Watkins, managing principal in Lee'sPhoenix office about Gosnell's move says the company will miss hispresence and leadership. "Given his role at Quantum, our alliancewill simply take on a different role as he moves from the brokerageside to the investment side of our industry. We look forward toworking with him in this latest dimension of his successfulcareer," Watkins says in the press release.

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

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