The idea behind establishing the Miami office was to serve multinational corporations looking to capitalize on the city's reputation as the "Gateway to the Americas," according to a prepared release. A Binswanger source cites Gateway's "outstanding track record" and the "great synergy" between Garcia and Binswanger. "He wanted to expand his operation, and we wanted an experienced team on the ground" in Miami, the source tells GlobeSt.com, adding that the alliance is intended to provide Binswanger's clients with "outstanding representation in the market and a complete understanding of the product that is available."
In a commercial real estate career spanning 30 years, Garcia has concluded more than $1.8 billion in sale and lease transactions, according to a prepared release from Binswanger. His experience includes commercial sales and leasing for the 3.2-million-sf Beacon Centre corporate park in Miami, as well as Flagler Station, a 960-acre, master-planned business park.
"Garcia's breadth of real estate knowledge extends to all aspects of the industry, including tenant/buyer and landlord/seller representations, land sales, and the placement of equity capital and disposition of real estate for institutions and corporations," according to the release. Garcia did not respond to calls for additional comment by deadline.
Over the next 60 to 90 days, the Binswanger source says, the alliance will be focused on continuing to integrate the two firms' databases and contacts, along with "getting the word out." Binswanger began establishing a Latin American presence in the 1990s, opening offices in Caracas, Venezuela, São Paulo, Brazil and Buenos Aires. The company also operates offices in Chile and Colombia, and its clients in the region have included Shell, ExxonMobil, Kraft, BASF and Bayer.
The move follows closely on Binswanger's announcement in mid-June that it had hired local experts for its Binswanger Mexico operations. As GlobeSt.com reported last month, Luis Gerard and Karl Binderberger will work with the backing of Binswanger's home office and will operate out of Mexico City. Binswanger Mexico has served global companies such as ExxonMobil, Detroit Diesel Corp., Cummins, Amgen and Teleflex. In Europe, Binwanger recently formed an alliance with Emmerson S.A. to serve the commercial market in Poland. Its other European offices include locations in Denmark, Greece, Germany, France and Switzerland.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
