Engel & Völkers is expanding in Fort Lauderdale with a new franchise owner.
Francisco Garcia said he secured the rights for 10 years to Engel & Völkers Fort Lauderdale and Fort Lauderdale Beach, and plans to eventually open up to four locations in those markets, from Commercial Boulevard to 17th Street in east Fort Lauderdale.
Garcia, who joined Engel & Völkers last year from Coldwell Banker, is aiming to hire about 15 to agents during the first year and up to 40 by the second year. The Fort Lauderdale office is set to open later this year and Fort Lauderdale Beach will open in 2019.
Garcia said he considered buying other franchises, joining Compass or opening his own brokerage, but said Engel & Völkers’ reach in Europe attracted him to the brand.
Before real estate, Garcia said he owned 27 nightclubs and bars over the course of 30 years.
Engel & Völkers has been expanding statewide. The Miami operation, led by managing broker Irving Padron, acquired DASH, a boutique brokerage in Coral Gables, in July and and also secured the rights to the Sunny Isles market the same month, giving the franchisee control of Miami-Dade County. Engel & Völkers also opened its second location in Brevard County with a franchise conversion of Tropic Coast Realty in Melbourne.
Timo Khammash and Oliver Tonn co-own Engel & Völkers Florida, the master franchise partner in the state.
Former Engel & Völkers broker Giancarlo Cuffia recently joined Compass as it opened a new office in Fort Lauderdale. Cuffia and his family previously operated Engel & Völkers’ Sunny Isles Beach and Fort Lauderdale offices.