Broker Frank Trelles jumped from State Street Realty to Vivo Real Estate, as shakeups continue at South Florida’s commercial brokerages.
Trelles cited the ability to lead and mentor Vivo brokers, as well as the opportunity to start and grow his own investment portfolio as reasons for the move. At Hialeah-based Vivo, Trelles will be able to partake in the firm’s site purchases and development projects.
“Investing in deals and developing properties — that’s the next evolution of my career,” he said. “For many years, I have been making my clients a lot of money. So my goal is to one day have a portfolio where I become primarily an investor.”
Trelles, who was at Doral-based State Street for the past eight years, started his career in industrial real estate sales, he said. He switched his focus to tenant leasing representation following the pandemic-induced demand for warehouse and last-mile distribution space, closing roughly 1 million square feet of leases annually for the past three years.
Prior to State Street, Trelles was at Cornerstone International Realty from early 2013 to 2016, and at WestVest Associates from 2000 to late 2012, according to his LinkedIn.
Vivo, founded in 2002 by Rene Vivo, who leads the firm as CEO, also has a capital markets division focusing on financing deals and young brokers “eager to go into the business,” Trelles said.
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Trelles’ quest to diversify and build his own portfolio through co-investment opportunities at Vivo isn’t due to a slowdown in the commercial real estate market, he added. Although higher interest rates and inflation have led to a drop in sales and leasing activity, Trelles said industrial leasing has stayed healthy due to continued demand.
The move comes on the heels of broker David Bateman leaving CBRE for Foundry Commercial, where he will helm the Orlando-based firm’s recently launched investment sales, leasing, property management and financing division. Bateman, who was at CBRE for four years, also cited the ability to diversify beyond brokerage fees as a reason for his move. At Foundry, employees can co-invest in the firm’s development projects and property purchases.
In other recent South Florida brokerage moves, ex-Marcus & Millichap brokers Ahmed Kabani, Luis Garino, Suraj Dalal, Kian McLean and Lucas Mondino launched Kabani Hotel Group. The Miami-based firm will focus on hospitality deals.