Franklin Street, which has developed a reputation for executing retail and multifamily deals in Atlanta, has hired an industrial real estate veteran to grow the firm’s business across the Southeast.
Tampa, Florida-based Franklin Street has appointed Victor Segrest as senior director in its industrial division. Segrest, who has executed leasing and sales assignments involving 22 million square feet and worked on 8 million square feet of industrial developments in his career, is based in Franklin Street’s offices in Atlanta’s Buckhead district.
Segrest most recently served as Atlanta president of Lee & Associates. He decided to join Franklin Street after discussing with Kurt Keaton, president of real estate and management services, and Chris Butler, managing director of Franklin Street’s office and industrial services division, the opportunity Segrest would have to grow the industrial platform across the Southeast.
“The company promotes teamwork, and it is the right size to instill an entrepreneurial spirit,” Segrest said in an email. “Most of my clients are active in Georgia and Florida, and Franklin’s Street’s footprint and team approach allows me to assist them in all markets.”
Segrest said Franklin Street is positioned to grow its industrial platform in Atlanta, especially as the sector outperforms other commercial property types.
“We have a strong industrial team in Florida that we can leverage for business in both states,” he said. “In addition, our project management team has completed industrial build-to-suits in multiple states.”
As Segrest settles into his new job at Franklin Street, recruitment is on his mind.
“We plan to expand the industrial team in Atlanta as we grow our investment, landlord and tenant representation services,” he said.
Segrest, who started at Franklin Street earlier this month, said he remains bullish on the Atlanta industrial market, especially as the industrial sector strengthens its position as a favorite asset class and large companies open new fulfillment centers across Georgia.
“While we have seen phenomenal rent growth in industrial, Atlanta remains one of the least expensive markets in the country,” he said. “Add that to a low-cost advantage, low vacancy, significant population growth and the Port of Savannah, and I believe the outlook for Atlanta and Georgia over the next two to three years is extremely positive. I think the same holds true for Florida with continued population growth and limited land available for industrial development.”