The Real Deal Miami

Former Flagler powerbroker opens boutique commercial firm, brings two execs along

By Alexander Britell | October 19, 2011 05:53PM

George Pino, a former senior vice president with Flagler Real Estate Services, has launched his own leasing firm, State Street Realty, in a shakeup for the Miami industrial market.

Pino is also bringing along fellow Flagler colleague Ed Lyden, who will assume the role of senior vice president, and Ana Lopez, who will be State Street’s marketing manager.

“I felt this was the appropriate time to start an entrepreneurial-type of firm,” Pino told The Real Deal. “I believe that if you look at the market as a “U,” we’re on the bottom part to the right of the center, and thought it would be the ideal time to take advantage of that whole potential upswing.”

Pino has retained several clients, with a total of 4 million square feet in his new portfolio. Headlining that list is a number of Florida projects belonging to Prologis, the state’s largest industrial real estate investment trust, centered in their Airport West portfolio.

Also among State Street’s new clients is South Florida developer Cardinal Commercial Development.

“I think it’s a great move,” said Brian Smith, an executive director at Cushman & Wakefield. “I think it’s a great move for both people. It’s not very often that an institution like Prologis would entrust that much product to a small firm, but George has certainly earned that position — he’s proven himself with them for many, many years.”

Smith manages a different portfolio for Prologis in Medley and North Dade.

The firm’s portfolio now includes properties such as Blue Lagoon Business Park, Beacon Centre Industrial Park and Airport Business Center, all of which are in the thriving Airport West industrial submarket.

“We’ve anticipated this move for some time and wish George all the best on his new endeavor,” Flagler Real Estate Services President Pike Rowley said in an emailed statement to The Real Deal.

Before joining Flagler, Pino worked as the real estate manager for Tecton in Miami, and has been named Industrial Broker of the Year by the National Association of Industrial and Office Properties’ South Florida chapter for the last three years.

“When you have this type of an intimate atmosphere as a broker, you can deliver a high level of service to clients,” Pino said. “So we’re excited about it.”