Franklin Street Real Estate Services continues to build its retail team in South Florida with the addition of Peter Crane as an investment associate. Crane, who has a background in commercial real estate and insurance, specializes in brokering the sale and purchase of retail properties. He will work closely with Greg Matus, who joined the company as regional managing partner of Broward and Palm Beach counties in May.
“I’m excited to join Greg and the rest of the Franklin Street team in South Florida,” said Crane. “The company is growing and making a name for itself in this market.” Crane continued, “With offices across the Southeast and such a wide array of service capabilities in commercial real estate, I look forward to leveraging the Franklin Street platform and using my skills in both real estate and insurance to add value to our clients.”
Prior to joining Franklin Street, Crane worked as a broker associate for CRC Insurance Services, a leading wholesale insurance broker with a national footprint. Based out of Boca Raton, he assisted in placing property, casualty and professional insurance in the excess and surplus markets, managing a book of business worth $35 million in premiums. Previously, Crane was director of leasing at Cohen Commercial Realty which is headquartered in West Palm Beach, FL. During his time there, he leased more than 450,000 square feet of mostly retail space in South Florida. He also gained experience managing properties during his tenure at the company.
“Pete can see a deal from a lot of different angles which makes him valuable to an investor,” said Matus. “His experience in leasing, management and insurance allows him to spot opportunities and trends that another associate might not see. I welcome him to our team and know he is an important addition to help us build our retail practice here in South Florida.”
Crane joins Franklin Street at a time when the retail investment market is heating up.
“There are a lot of investors outside of our state who would love to own retail property here in South Florida,” said Crane. “Now is the time to get back into the market. Vacancy rates are falling, rents are rising and banks are back lending in a low interest rate environment. For someone who has a taste for retail, now is the time to get off the sideline and get into the game.”
Crane will focus most of his time developing business in Palm Beach County.
About Franklin Street: Franklin Street is a family of full-service real estate companies focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions—Real Estate, Capital, Insurance, and Management—Franklin Street offers unmatched value and optimal solutions for clients nationwide. For more information on Franklin Street, please visit FranklinSt.com.