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Leggat McCall Properties Undergoes Major Management Changes

BOSTON-Leggat McCall Properties makes major changes as its two senior principals retire and senior management acquires the company. The company, which is liquidating its real estate positions, sold $500 million in properties over the last year.

By Naomi Grossman | Updated on April 18, 2001

BOSTON-Leggat McCall Properties is making major managerial and structural changes. President J. Brad Griffith and chairman J. H. Walton are retiring and handing over the reins to Eric Sheffels and Mahmood Malihi, who are currently executive vice presidents. The 36-year old real estate firm is being acquired for an undisclosed sum.

Sheffels tells GlobeSt.com that the senior principals of the firm decided to liquidate their real estate positions that the company owns and not reinvest the money. “We will be inheriting the service business,” says Sheffels, “and we will continue to manage the assets of the firm and develop properties as a third-party manager.” Sheffels adds that Leggatt McCall intends to get back into investments and acquisitions of commercial office properties in the Northeast.

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