"The type of business that Jim Keeley does up here is more closely related to what we're doing," Lundstedt, now a senior vice president at Colliers Classic, tells GlobeSt.com. "To draw a parallel, you can think of Cushman as focused on the institutional investor. Withus and Colliers Classic, you think more of the private investor versus the institutional investor." Cushman & Wakefield execs did not return telephone calls for comment by publication time.

Lundstedt says Keeley, a partner at Colliers Classic, is focused on private investors looking to relocate from the Scottsdale Airpark to Deer Valley. "I would say honestly that switching to Colliers is a great identity. With Keeley's push to Deer Valley, it makes a lot of sense," Lundstedt adds. "I know Deer Valley from the office and flex market and development side. I want to start looking at it from his experience. At Cushman, we were just an island doing our own thing."

To date this year, the team closed $41 million of deals and sold 110 acres. Lundstedt says deals that entered escrow prior to their departure will be completed as Cushman & Wakefield transactions. Their clients, Hillery says, are "primarily local, maybe regional, but they're not institutional."