NAI Capital, based out of Encino, LA has appointed Timothy Foutz as their new chief executive officer. Mr. Foutz is an experienced broker with more than 40 years’ under his belt. He graduated from USC in 1970 and began his real estate career with Grubb & Ellis in LA and after 23 years of service, left in 1994 to become a partner of NAI Capital. A number of former Grubb & Ellis affiliates have also joined the NAI Global network; offices in Wichita, Alabama and Mississippi.
Some of Mr. Foutz’s career highlights include; leasing a 160,000 square foot Eaton Corp. property in Westlake Village, to Packard Bell Computers, which he later sold on behalf of Eaton to an investor to be developed into a community center and high school. He was also a key player in the sale of 30 acres of land, also in Westlake Village, where Dole Foods has since established their international headquarters.
Mr. Froutz is replacing current CEO Bob Scullin, who took the position in December 1993. Mr. Scullin’s wife, Cathy, is staying on as an NAI broker with the firm. Froutz has stepped in because he loves the company and believes he can do a good job at keeping the firm on track after Mike Zugsmith, long-running chairman, recently stepped down due to illness.
NAI Capital is a member company of NAI Global, a network of wholly-owned, independent commercial real-estate firms. The member companies work together and support client needs across state and country borders. There are over 160 offices and 6,700 brokerage professionals world-wide and each office is local market leader and deeply rooted in their community. NAI Global is owned by Andrew Farkas’s company, C-III Capital Partners.