(Crystal Proenza is associate editor of Real Estate Florida.)
[IMGCAP(1)]MIAMI-Since resigning as senior managing director for Cushman & Wakefield of Florida early this year, Tere Blanca has been working on her transition out of the brokerage, and is now focused on the formation of her own commercial real estate firm. After guiding Cushman's South Florida portfolio growth from 3.5 million to 10 million square feet, and previously serving as senior vice president at Codina Realty Services, Blanca says she is ready to use her experience to kick off her own firm this April.
Her first order of business involved recruiting her industry peer and friend, Danet Linares, who has left her position as senior vice president and director of real estate services for Foram Group in order to join Blanca. The news of Linares' departure comes just weeks after Foram Group lost its anchor tenant, Bilzin Sumberg Baena Price & Axelrod LLP, at its developing Brickell Financial Centre--the project where Linares was leading the leasing effort.
[IMGCAP(2)]"I've known Danet for as long as she's been in the business," says Blanca. "I tried to recruit her to join Codina, and Cushman a few years ago. Today it is the right time for her to join an exciting venture like this one, and I'm thrilled to have her work in collaboration with me to execute and grow the business."
At first Miami-based Blanca Commercial Real Estate Inc. will focus on leasing and sales of office buildings with deals ranging in the $5 million to $15 million range. "We're going to be focused on our niche market as the firm develops its business, and there might be opportunities to bring along top professionals in complementary sectors of the business later," says Blanca. The firm will also offer advisory services for office owners looking to reposition their products or that need assistance in developing visions for master plans.
Blanca, who also serves as chair of the Beacon Council, Miami's economic development partnership, is confident in the county's office market, despite the flood of space expected to come online in the coming months. "International strength and diversity of industry will continue to fuel growth here over time once we come out of this environment. The office market here has gone through cycles where there has been over supply and it has all leased up over time. Will it be a little more painful given the current crisis? Absolutely, and that is why I am persuaded there is opportunity for experienced professionals to support owners at this time."
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