CBRE Backfills Phoenix Retail Team

PHOENIX-After losing 18- and 15-year retail veterans Dave Newquist and Ron Ault, the CB Richard Ellis Inc. execs in Phoenix decided to partner Bob Pearlstein, Max Bippus and Paul Honeycutt for the office’s new lead retail team. Newquist and Ault recently left to form a development company.

Pearlstein, a vice president, joined the firm in December 1996. He has been handling development of grocery-anchored and power centers. A four-year employee of CBRE’s rank and file, Bippus works with clients such as Wells Fargo Bank and Wendy’s restaurant. Honeycutt came to CBRE as a retail specialist from southern California in 2001. He specializes in multiple locations and shopping center marketing campaigns for such clients as McDonald’s, Pizza Hut, Big O Tires and Dunkin Donuts.

Newquist and Ault, a highly recognized retail team in the metro, have formed Newquist Ault Commercial Properties. The pair is focusing on retail development opportunities within Arizona’s bounds. They have about 400,000 sf in the works. Their leasing assignments are being turned over to various commercial real estate brokerages around town.