The company already boasted a 40-person brokerage staff in South Florida before adding eight more professionals with its purchase of U.S. Commercial Realty Group. The price was not disclosed.
U.S. Commercial, founded three years ago by Wayne Schuchts, represented major clients such as EastGroup Properties, a Mississippi-based REIT with 700,000 sf of space in Broward County. Schuchts worked for CB Richard Ellis in Jacksonville, FL prior to launching his own company in Miami.
Airport West is the region's largest industrial submarket with nearly 42 million sf of inventory. Some 1.2 million sf was leased in the year's first half. Airport West is popular with e-commerce and telecom firms, helping to push the vacancy rate below 7%.
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