Dive Brief:
- Madison Commercial, the commercial real estate development platform of Madison Capital Group, has hired Joshua Hamby as executive managing director, according to a Monday announcement.
- Hamby will lead Madison’s sourcing, structuring and development opportunities in the Southeast and Mid-Atlantic, with a focus on growing the company’s Fresh Stop c-store banner and Links Car Wash chain, according to the announcement.
- Hamby’s hiring comes the same month in which both the CEO and president of Fresh Stop and Links exited the company.
Dive Insight:
Earlier this month, Madison announced that it’s hoping to raise $200 million from investors to open more Fresh Stop and Links locations, which currently have about 17 and 30 sites, respectively. Signs point to Hamby being a vital part of this plan, as the company emphasized in its announcement that his hiring will accelerate the expansion of its retail development platform.
“We are thrilled to welcome Josh to our fast-growing firm,” Ken Carpenter, president of Madison Capital Group, said in the announcement. “We believe the Fresh Stop and Links franchises have significant room to expand, and we look forward to leveraging his expertise and experience to help fuel Madison Commercial’s continued growth.”
Hamby brings more than a decade of experience in retail real estate development to Madison, according to the announcement. His expertise includes site selection, underwriting, entitlement strategy, consultant coordination, construction management and disposition planning. He has worked with national retailers, capital partners, municipalities and multidisciplinary development teams.
Prior to joining Madison, Hamby was vice president of real estate for Hutton, a Chattanooga, Tennessee-based commercial real estate, development, and investment company, according to his LinkedIn bio. He’s also held development, real estate and project management roles with a variety of development, construction and property management firms in Tennessee.
In all of those roles, Hamby led site sourcing, development execution and client expansion efforts for major retail and convenience store programs, according to the announcement.
“I am excited to take on this new role with Madison Commercial, where I am hyper focused on growing the retail development practice,” Hamby said in the announcement. “We will do that by making smart plays in an evolving and ever-changing retail landscape, while identifying opportunities to scale platforms like Fresh Stop and Links in markets that need them.”
