Launch of a new commercial real estate company in Bentonville
While employed by separate companies, Patrick Byrd and Butch Gurganus have worked together for the past decade to finalize several commercial real estate deals in Northwest Arkansas.
They still work together, only now for their business – Commercial real estate focus. Byrd (CEO) and Gurganus (Chairman) are the co-founders of the new company, which was officially launched a few weeks ago, with an office inside Beau Terre Office Park, off Interstate 49 heading north to Bentonville. Limited liability companies that include Byrd paid $ 24.4 million four years ago for the 35-building, 383,000-square-foot office park, which is just over half of the office space in the portfolio. of Focus. It was one of the deals that Gurganus and Byrd worked on together.
Focus is a full-service commercial real estate company specializing in the sale of investments, tenant and owner representation and property management.
Byrd, originally from Fort Smith, is the co-founder and CEO of 1912 Walton, a retail services company started in 2014 in Bentonville. He has also been an active investment broker and licensed real estate agent for 20 years. He also manages and invests in a large real estate portfolio for several groups of people who own warehouses, offices and duplexes.
âButch and I have worked together for a long time and have stayed in touch over the years,â Byrd said. “I think he’s the best office guy out there.”
Gurganus is the Managing Director of the company and focuses on tenant representation and investing for investment groups. He also manages Focus’s leasing efforts for a 600,000 square foot office portfolio.
Originally from Oklahoma, Gurganus has spent the past 15 years working for Colliers International Arkansas. Principal and Executive Vice President, he led the company’s office team at the Northwest Arkansas office in Rogers.
From 2005 to 2020, Gurganus estimates that he completed over 1,000 transactions with landlords and tenants. It has completed over 700 rental and sale transactions over the past decade for a total volume of $ 510 million.
âI wasn’t looking for a place to go,â Gurganus said. “I thought I would be [at Colliers] another 15 years doing the same thing, but it was different and it sounded exciting. Without the great corporate environment, we have the flexibility and structure to do things the way we want. “
The focus will begin with four staff members. Also on board are two other members of Colliers International – Lindy Janes (Director of Property Management) and Oksana DeMaris (Brokerage Partner).
Like Gurganus, Janes has spent the past 15 years at Colliers. She started as a marketing manager in the Northwest Arkansas office before moving to the property management division. For the past five years, she has held the position of Senior Property Manager, managing the Beau Terre office park.
DeMaris started at Colliers as an intern while studying at the University of Arkansas. She started working full time in 2018 after graduating.
Byrd said Focus is still recruiting and has marketing and accounting jobs.
âWe will also be looking for brokers,â he said. “We are not looking for a lot, but for outstanding and excellent brokers.”