JACKSONVILLE, FL-Tampa-based Franklin Street has set up shop in Jacksonville. Market veteran David Hsieh has signed on as a partner in the real estate services division to lead the new office. The company also has offices in Tampa, Fort Lauderdale, and Atlanta.
“The Jacksonville office opening continues the trend of Franklin Street targeting areas and individuals that help build a stronger platform to help owners and investors in this difficult environment,” Andrew Wright, CEO and managing partner of Franklin Street, tells GlobeSt.com. “Now we have a stronghold in the Southeast and David will be a cornerstone of our new Jacksonville office.”
Hsieh comes to Franklin Street from Marcus & Millichap, where he was a vice president in the firm’s Jacksonville office. There he earned the company's National Achievement Award in 2006, and has listed and transacted, statewide and in southern Georgia, more than $300 million in investment real estate since 2004. He was also named one of CoStar's Top Ten Powerbrokers in Jacksonville in 2004-2007
and 2009.
Hsieh tells GlobeSt.com several major economic factors contributed to his decision to join Franklin Street. But the most pressing, he says, was how the landscape and dynamics of investment real estate have changed dramatically over the past three years.
“A brokerage model or a good platform with a national reach was sufficient to get transaction deals done in the ramp up in the early 2000s,” Hsieh says. “The level of service in the market and the state of most property owners, certainly in the private sector, have dictated that a different business model really govern the way business should be handled in terms of the level of service to clientele.”
As Hsieh sees it, even if it's not a purchase or sale, Franklin Street can help owners and investors increase their cash flow and preserve equity. As the economy recovers, Hsieh sees opportunities for heightened brokerage activity in the Jacksonville market. Franklin Street’s new Jacksonville office will focus on retail, office and multifamily sectors.
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