LV real estate exec leaves to head Internet concern

Phil Levine

Thursday, Dec. 2, 1999 | 11:29 a.m.

Jim Stuart resigned as managing director of Las Vegas commercial real estate brokerage Colliers International to head up a new Internet-based business dubbed realcentric.com.

Stuart said the new company is in an "aggressive development mode and won't be fully operational until late first quarter 2000." He described the venture as a "vertical portal acting as a business to business enterprise, focussed on small to medium-sized businesses."

He said commercial real estate would constitute a prominent portion of the website, but "the breadth of the company extends far beyond just real estate."

Michael Newman, current vice-president of commercial leasing at the Howard Hughes Corp., replaces Stuart on Jan. 1, 2000.

Co-founders of Stuart Mixer Commercial, Stuart and Mike Mixer, sold the firm to Boston-based Colliers last year.

Stuart said a decision was forthcoming about whether his new company would remain private or hold an initial public offering.

"We're weighing all our options at this point," he said.

Stuart declined to identify his partners in the venture, saying only that they include "worldwide-recognized leaders" in the technology field. He said the new company will be headquartered in the San Francisco Bay area.

However, Stuart said in his new position he hopes to continue to be based out of Las Vegas so as to "maintain my long-standing relationships in the area."