The president of Henry S. Miller Brokerage’s retail division, Vaughn Miller, has left the company, with plans to launch a new firm that will focus on retail development projects. Miller is the great-grandson of Henry. S. Miller Sr., who founded the company nearly a century ago, and the son of Vance Miller, who unexpectedly passed away in February.
A commercial real estate veteran with more than 20 years in the business, Vaughn Miller has been involved in projects at high-profile Dallas sites and has also represented tenants such as Boston Market and Blockbuster Video as they entered the North Texas market.
Henry S. Miller Brokerage will launch a search to fill the retail president post, sources say. Greg Miller, Vance’s youngest son, remains with the company as president of Miller Realty Investment Partners and HSM Equity Partners.
Other firm changes are reportedly in the works; be watching D Real Estate Daily for continuing coverage.
UPDATE: Henry S. Miller Brokerage has released a press statement:
With full support from Henry S. Miller Family of Companies and the Miller Family, Vaughn Miller has decided to form a new retail development company; VCM Development Group. In memory of his late father, Vance C. Miller, Vaughn has chosen to set out on his own as his father did years ago to pursue his dream in developing and investing in commercial real estate. “I’m really happy to be following in my father’s footsteps,” Miller said. “When he was my age he did the same thing and started Vance C. Miller Interests.”
The new VCM Development Group is named after the original development entity he and his father created in 1988 to develop single-tenant retail property. VCM Development Group is a diversified real estate investment company, pursuing all forms of real estate investment, development and brokerage business.
“Vaughn has been an integral part of the Henry S. Miller Company for over a quarter of a century. He is a highly skilled real estate professional who has developed, leased and sold numerous successful projects. Henry S. Miller Company has fostered dozens of real estate agents who have gone on to create their own high-profile firms. We fully expect Vaughn to be tremendously successful in his new venture. We wish him the best and will always support his efforts.” said Greg Miller, president of Miller Realty Investment Partners.
Vaughn Miller, who was previously the president of Henry S. Miller’s Retail brokerage division, has been in the commercial real estate business for more than 27 years. Vaughn started his real estate career in 1986 when he joined the Miller Companies working for his father at Vance C. Miller Interests (VCMI). At VCMI, Vaughn became vice president and headed the commercial brokerage operation as well as the marketing and leasing for over 300,000 square feet of retail projects in North Dallas. Vaughn has an extensive background in the sale, leasing and development of well-known Dallas retail land and shopping centers.
In 2008, Vaughn completed the development of Little Elm Towne Crossing, a 170,000 square foot shopping center at Eldorado Parkway and FM 423 in Little Elm, Texas. Little Elm Towne Crossing contains popular tenant such as, anchors: Hobby Lobby and 24 Hour Fitness. Vaughn has also been extremely successful in the disposition of 40 WalMart ‘shadow-anchored’ retail centers located throughout Texas and South Central United States. Vaughn also played and integral role in the acquisition and renovation/development of Pepper Square Shopping Center and Valley View Market in North Dallas. Since graduating from Southern Methodist University, Vaughn has built a successful commercial real estate career and will continue to excel while running VCM Development Group. “I have known Vaughn since he was in high school. He is a bright young man and I wish him the best of luck in his new venture.” said Sam Kartalis, President/COO of Henry S. Miller Realty Services.
At Henry S. Miller, business will continue to thrive as the iconic Dallas commercial real estate firm moves into its 100th year in 2014. “It was very important to my late husband, Mr. Vance C. Miller, and is very important to me to carry on the service and integrity of the Henry S. Miller family of companies. We fully support Vaughn’s new business enterprise and wish him much success. As we look forward to our 100th anniversary, we will continue to provide our employees and clients with the respect and professionalism that the Miller company is so well-known for.” said Mrs. Geraldine “Tincy” Miller, Chairman of Henry S. Miller Cos.