Real estate brokerage formed

Jennifer Shubinski

Thursday, March 11, 2004 | 11:09 a.m.

Two former CB Richard Ellis, Las Vegas, retail specialists have left the Las Vegas company to form their own brokerage and development firm.

Bill Dunbar, who has worked at CB Richard Ellis, Las Vegas, for 16 years and Lisa Callahan, who worked at the firm for about two years and in retail real estate since 1989, left in February to form Sierra Commercial Advisors, a brokerage company. Jeanene Maxson, who also worked at CB Richard Ellis, will be a leasing specialist with the new company.

Sierra Commercial Advisors has partnered with development company The Mazon Group of Scottsdale, Ariz., to form Sierra Commercial Development in Las Vegas. The Mazon Group has specialized in retail centers in Texas and Arizona since 1989. Sierra Commercial Development will concentrate on the development of retail centers in the Las Vegas area.

"Through Sierra Commercial Advisors we've continued our relationships (with former clients) and will continue working with them on their product and properties trying to lease it out, if it is already built, and try to find tenants to begin building a number of projects," Callahan said.

Dunbar, who has been involved in about 4 million square feet of retail development in the Las Vegas Valley, said after 16 years with one company, it was time to move on.

"With my experience in the marketplace, I think we can provide a better service, be more responsive to a select clientele, better define who we want to work with and respond in a better time frame with better service," Dunbar said.

Mark Bouchard, managing director of CB Richard Ellis, Las Vegas, said the firm will fill the positions, but is not ready to make any announcements.

"Typically those things take a bit of time, and we're hoping to continue to do what every company does and that is continue to improve," Bouchard said. "We hope that Bill and Lisa's opportunity creates opportunities for CB Richard Ellis to improve itself as well."

Dunbar and Callahan are working on several retail development projects around the valley through Sierra Commercial Development, including one grocery-anchored center in Anthem with national REIT Regency Centers.

Dunbar and Callahan are not the only brokers to leave the local office of a national real estate brokerage firm recently.

Christopher Bentley left the real estate firm Marcus & Millichap, where he was director of the company's national multi-housing group, to form The Bentley Group Real Estate Advisors. The company will focus on Las Vegas multi-family commercial retail.