Grubb & Ellis Rebuilding Dallas Team

Moody D. Younger has been named executive vice president to backfill a vacancy created last February that spun the office into a quiet period for most of 2003. Younger is just two months shy of marking his fourth anniversary as senior vice president and partner at Stream Realty Partners Inc. in Dallas.

"He's a good friend, a fun guy and we'll miss him a lot," Lee C. Belland, Stream's co-managing partner, tells GlobeSt.com. "We wish him all the best."

Younger says he got the call in early December asking if he'd come on board Jan. 1 to lead the Northbrook, IL-based brokerage house's full-court press for market share in Dallas/Fort Worth. "It was a great relationship with Stream," he stresses. "But at the end of the day, this opportunity is a perfect fit for what I want to do at this stage of my career." His background includes executive stints with Transwestern Commercial Services, Compass Management and Leasing and LaSalle Partners. He began his career at Trammell Crow Co.

Younger says the plan is to grow the 15-broker office to 30 or 35 professionals and ensure resources are in place for the rebuilding. "The leadership is committed to expanding our presence in Dallas," he says. "I wouldn't say we'll go raiding. I think our platform is strong enough that when we talk to people they'll recognize the value in being here." Talks have already begun with a few of town's more seasoned professionals although the plan is to hire across all experience levels.

Grubb & Ellis got the ball rolling shortly before Younger was hired, leasing a large enough space at Lincoln Center to hold a 35-broker staff. The move from Signature Place at 14785 Preston Rd. to the Dallas North Tollway property will be done the last weekend in February. The 14th-floor build-out is reported to be state-of-the-art to demonstrate the kind of economic commitment coming due for the office from a physical and morale perspective.

The Grubb & Ellis team moved into Signature Place in 1999 when it took over the leasing assignment. Though that is gone, it wasn't the reason for the move--the lease is expiring. Younger says the intersection of the tollway and LBJ Freeway is just more centrally located for the plan to expand the footprint of current services and reseed some of its lost stronghold like multifamily investment sales. "There's not an area that we're not going to focus on," Younger vows.

"2004 is going to be a significant year of progress for the Dallas office," says Robert Kramp, director of the firm's client services. "We are going to inject the resources and capital necessary for that office ... it's time to build Dallas. By doubling the size and diversifying the ranks we will more likely be in the Top 10 to 15 offices in the system." Dallas is ranked 25th out of the 41 corporate-owned offices and overshadowed in its region by Atlanta, Houston and Washington, DC ... at least right now, he says.