Predium Hires Veteran; Dismisses Merger Talk

[IMGCAP(1)]DALLAS-Predium co-founders Seth Weinstein and Mitchell Wolff have brought another partner on board as the firm marks its fifth year. The addition is just one element to a story with many moving parts.

John Shaunfield and his five-member team have left Mohr Partners that much is true. GlobeSt.com has been assured by respective company leaders that Dallas-based Mohr, though, is not restructuring and Predium is not about to be merged into New York City-based Newmark Knight Frank–both the subject of board room and lunchroom talk for weeks in commercial real estate circles. Newmark Knight Frank declined to comment.

Shaunfield’s hiring is aimed at strengthening Predium’s presence in the local market. Since its founding, the firm’s leaders have focused on national accounts. [IMGCAP(2)]“We’ve been in discussions for the past year and a half trying to find a way to get him on board,” Weinstein tells GlobeSt.com. “Now that we have John on board, we can really focus on our expansion plans for Dallas/Fort Worth.”

Shaunfield, with 17 years’ experience as a tenant rep, was a managing partner at Mohr. Coming with him to Predium are Kyle Pierson, Matt Nesrsta, Matt Smoot, Kyle Jett and an administrative assistant. Shaunfield, a heavy hitter in the industry, reports having closed more than 500 leases valued in excess of $500 million.

Weinstein says the plan is aimed at leveraging the firm’s national practice to build a stronger local presence through Shaunfield and Predium partner Clay Vaughn, who joined the firm in 2006. The local team includes Bill Buntyn, hired earlier this year from GVA Cawley.

The rumor mill picked up as word got out about Shaunfield’s exit from Mohr. “It’s not like we had five brokers leave. John clearly is a solid broker and we do wish him well,” Ted Fredericks, Mohr Partners’ president, tells GlobeSt.com. “But, the people who went with him were callers.”

Fredericks also says Bob Mohr has not sold his interest in the company to his partners. “With Bob and the board, starting six years ago, he’s been working into place what would ultimately be a transition. There continues to be dialogue,” Fredericks says. “At the same time, there is no definitive agreement on the part of any partners.”

Likewise, Weinstein emphatically denies that Predium, which has six offices in other US cities, is in play. He admits the firm’s been courted by a several companies. “We are a company that is growing rapidly and is being noticed by our peers,” he says. “It’s nice to be wanted.”