One month after expanding into the Orlando market, Franklin Street announced it has landed a large institutional investor client in the region.
Starwood Capital has assigned Franklin Street to manage three Class A office properties— two in Orlando and one in Tampa’s Westshore district. To effectively service the new business, the growing full-service real estate company has hired five new employees, including a senior level manager.
“We are extremely honored that Starwood Capital has placed their trust in us to manage some of their top office properties in Florida,” said Kurt Keaton, regional managing director of the Orlando office and President of Real Estate and Management Services. “We are hopeful this is the beginning of a long-term relationship.”
The three-building portfolio totals 567,690 square feet.
Quadrangle, a single-tenant net lease property located at 11950 Corporate Boulevard, Orlando, is 226,548 thousand square feet; and Baldwin Point, another multi-tenant building at 2420 Lakemont Avenue, Orlando, is 164,766 square feet; Tampa Commons, a multi-tenant building located at 1 North Dale Mabry in Tampa, is the largest at 253,922 square feet.
“This engagement is important as we launch and grow our full-service platform in Central Florida,” said Melissa Hazlewood, Vice President of Property Management in the Orlando Office. “It gives us a lot of great momentum at the right time.”
Franklin Street hired a senior level executive and four property managers/building engineers to service the new Starwood business. Traci Konowal, a former vice president at JLL with more than 14 years of experience, was hired as General Manager to oversee the Orlando properties. Julie Palmer-Nicholson, a Director of Office and Industrial Services based in Tampa, will oversee Starwood’s Tampa building.
Keaton said he expects to make some other announcements regarding new business and new hires in the coming weeks.
“We’re expecting to experience tremendous growth in the Orlando market as we continue to fill out all of Franklin Street’s service lines. Orlando is a growing and prosperous city and we are excited about all the possibilities in the near future.”
Franklin Street opened an office in Orlando in early May as part of a strategy to be a statewide firm and service clients coast-to-coast. The company is based in Tampa, with offices in Orlando, Fort Lauderdale, Miami, Jacksonville and Atlanta, Georgia.
The Orlando office is located downtown at 390 N. Orange Ave.