When Tere Blanca resigned as senior managing director and branch manager of Cushman & Wakefield of Florida to start her own firm earlier this year, some questioned the wisdom of her timing.

Then others saw the writing on the wall. Within weeks, Cushman & Wakefield began eliminating executive positions from its ranks.

Less than eight months after Blanca left Cushman & Wakefield, the commercial real estate entrepreneur has picked up two of Miami’s premier listings — 1450 Brickell in Downtown Miami and One Park Square at Doral. Both listings were previously with Cushman & Wakefield.

Indeed, while many larger brokerages are struggling — CB Richard Ellis lost $6.6 million in the second quarter of 2009 — Blanca Commercial Real Estate appears better able to adapt to changing market conditions. Boutique firms like Blanca don’t have the debt that larger institutional players may have. [more]