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ATLANTA-Gerald G. Woodruff III, a former executive in the Atlanta office of Houston-based Hines Interests Inc. and Cauble and Co., is the new president of RB Development Services Inc., an affiliate of Richard Bowers & Co.

Woodruff’s appointment sends RB president Terry Hartigan into the chairman’s office. Until now, five-year-old RB Development has worked within the Bowers organization on company-owned redevelopment projects. RB plans to do third-party development deals on its own for the first time.

“We want to be a resource for the firm, but not limited to the firm,” Woodruff says in a prepared statement. RB seeks to attract financial and development partners on build-to-suit projects, raw land development, income-producing assets, renovations and ground-up development projects.

Existing high-profile RB projects are the 260 Peachtree office building and Shadowood Office Park.

Prior to joining RB Development, Woodruff formed partnerships with other developers and investors to acquire and develop office and retail properties. One of the partnerships was with Barry Real Estate Co. to redevelop Pershing Point Plaza, a 405,000-sf office building in Midtown and headquarters to Earthlink.

During his six years with Hines Interests, Woodruff participated in projects in Atlanta and Miami valued at $520 million with lease values of $400 million.

The 21-year-old Richard Bowers & Co. is the largest full-service commercial real estate brokerage firm in Atlanta. Since its inception, the company has closed 7,948 sales and leasing transactions totaling 59 million sf.

Besides RB Development, other Bowers affiliates are RB Development Services & Properties Inc., RB Financial Services Inc. and Facilitec Inc.

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