The Middleton commercial real estate firm long known as T. Wall Properties LLC has changed its name to Vanta Commercial Properties in a bid to differentiate itself from residential developers of multifamily and single-family projects with similar names.
The move also further distances the company from its former longtime CEO, Terrence R. Wall, who founded T. Wall Properties in 1989 and helped build it into one of the state’s largest commercial real estate development and property management companies.
Wall was ousted as CEO of the former T. Wall Properties by a board vote in April 2012, and soon after, he created a new company called T. Wall Enterprises to develop luxury apartment buildings.
Wall, in September 2013, also took over as president of a large single-family residential subdivision under construction northeast of Middleton known as The Community of Bishops Bay, after the board of T. Wall Properties voted to transfer that project to Wall.
It was Wall who spearheaded T. Wall Properties’ involvement in The Community of Bishops Bay when he was CEO. But it became a source of internal division and litigation after other board members, including a pair of New York investors who bankrolled the company for $110 million in 2007, made it clear they preferred to retain its original focus on commercial real estate.
Randy Guenther, CEO and CFO of Vanta Commercial Properties, said the name change, which officially took effect Monday, was part of an effort to look ahead and re-emphasize the company’s commitment to developing office space exclusively.
“We wanted a name and look that reflects motion — that expressed energy and moving forward,” Guenther said. “Vanta is derived from ‘advantage,’ which implies the success that our customers achieve when choosing Vanta ... to grow their business with. We’re excited and focused about the future of our company and our continued commitment to our customers.”
Vanta Commercial Properties, now sporting the tagline or company slogan of “Imagine It,” has a portfolio of more than 2.5 million square feet of commercial office and retail space, according to a company news release. It has more than 250 customers in Dane County.
Guenther joined the company in 2006, became CFO in November 2007 and replaced Wall as president in October 2009. The company had no named CEO for several months after Wall was removed.