Flagler is a commercial real estate company located in Coral Gables, Florida. Flagler is a legacy company directly from American businessman Henry M. Flagler.
The company has developed more than 30 million square feet of commercial real estate space over the last 30 years. It also has more than 2,500 acres of land that can be developed across the state, and manages or leases more than 13 million square feet of commercial properties. The development project includes a new world headquarters for Bacardi USA, in Miami; World Office Depot's headquarters, in Boca Raton; and Miami Flagler Station, the largest business park in South Florida.
Flagler has shifted its focus in recent years from owning commercial real estate properties, and more towards developing and providing property management services, brokers, and asset management to larger and institutional clients.
Flagler Company is a wholly owned subsidiary of Florida East Coast Industries.
The origin of Flagler comes from the original railway company founded by Henry M. Flagler in 1888. After visiting Florida with his ill wife, Flagler sees the country's great potential for tourism. He started buying a small railroad company, and began expanding its rail network on the east coast of Florida. The Florida East Coast Railway eventually stretches from Jacksonville to Key West. To support rail operations, Flagler also invested millions of dollars to develop new infrastructure such as hotels, resorts, highways, and utilities.
A number of communities sprang up along Flagler railroads, including West Palm Beach in 1894. Miami, which comprised about 400 residents when the train arrived in 1896, grew into a growing city of more than 29,000 inhabitants a generation later.
In building the railway network, Flagler also acquired thousands of hectares of adjacent main land or near the main train corridor. As a result, FECR has for years become not only the largest train operator in the state, but also one of its largest commercial developers.
In 1983, Company St. Joe, who was named the majority shareholder of FECR in 1961 after a long bankruptcy, separated the real estate operations of the railroad company. First known as Gran Central Corporation and later as Flagler Development Company, the company merged in 2006 with developer and other major real estate service provider, Codina Group, and changed its name to Flagler Development Group.
In 2009, Fortress Investment Group bought Flagler's parent company, Florida East Coast Industries, which still owns FECR, for $ 3.5 billion. Shortly thereafter, the Citadel separated FECR into separate separate companies.
Following the arrival of Vincent Signorello as President and CEO of the company in 2010, FECI underwent a significant strategic rearrangement, resulting in the creation of four different companies operating under FECI umbrella: All Florida Ships, Flagler Global Logistics, Parallel Infrastructure, and Flagler Development.
In 2012, the company sold a significant portion of the Flagler Station business park in Miami, while maintaining an undeveloped package.
In 2013, the company changed its name to just Flagler.
Video Flagler (company)
Services
Flagler markets itself as a full-service commercial real estate provider with more than a century of experience in Florida. Their core services include development, brokerage, and property management and asset management.
Development
Flagler has developed more than 30 million square feet of commercial property over the last three decades, working with some of the region's largest businesses, including:
- 11 million square feet of suburban office building. Projects include Ryder Systems, Strayer University, and Flagler Center.
- 18 million square feet industrial warehouse/distribution facility. Projects include Flagler Station, Beacon Lakes, and Centergate at Gratigny.
- 1.5 million square feet of office space/retail. Projects include Bacardi USA Headquarters, Global Headquarters Depot Office, and Toyota Headquarters.
- 6 million square feet of refinement improvements. Projects include Carnival Cruise Lines, Target, and DHL.
- Thousands of hectares of infrastructure & amp; Highway. Projects include Dolphin Mall, The Palms at City and State, 1800 Military Trail, Flagler Center, and SouthPark Center.
Flagler has received numerous awards for its development efforts, including the "Developer of the Year" by the Commercial Real Estate Industry Association (NAIOP) in South, Central and North Florida markets.
Flagler has also made a commitment to build environmentally friendly projects. The company is a member of the US Green Building Board, and encourages its staff to work towards LEED certification in their specific field.
Landed
According to the company, Flagler has about 2,500 acres of land in northern, central, and southern Florida, focusing on the metro areas of Jacksonville, Orlando, Fort Lauderdale and Miami.
Service Broker
Flagler was once considered the largest commercial brokerage firm in Florida. After a strategic change, the company has switched to a high-end boutique brokerage operations focusing on providing full services to large, blue-chip, or institutional clients, such as JP Morgan and AEW Capital Management.
Flagler services include helping property owners find tenants, helping businesses find space to buy or rent, strategic consulting services to help property owners maximize assets, property management, development services, and land sales.
Property Management
Flagler manages and leases about 14 million square feet of commercial space throughout Florida. The list of corporate clients includes AEW Capital Management, Barclays, and Morgan Stanley, as well as several specialized institutional and service lenders.
Services provided include property operations, property accounting and reporting, rental administration, property finance planning and budgeting, and real estate tax reviews.
Maps Flagler (company)
Leadership
Vincent Signorello is President of Flagler and oversees the day-to-day operations of the company. Signorello also serves as President and CEO of Flagler parent company, Florida East Coast Industries. He holds M.B.A in corporate finance from Boston University and B.S. from Boston College.
Keith A. Tickell is currently Chief Operating Officer of Flagler. Prior to joining Flagler in 2001, Tickell worked in executive-level positions with The North Highland Company, in Atlanta, and The Wilson Company and Sabal Corp, both out of Tampa. He holds an MBA from Emory University. He is a native of Tampa, a graduate of the University of South Florida, and CPA (inactive).
Kolleen O.P. Cobb is General Counsel and Executive Vice President of Flagler. Prior to joining Flagler in 2000, Cobb with Hughes Hubbard & amp; Reed LLP, from New York. He holds a bachelor's degree, master's degree, and jurisdiction from the University of Florida, and is a member of the University of Florida Law Review and Urban Land Institute.
Jeanne Stormes is the Vice President of Property Operations where she oversees Flagler Real Estate Services. Prior to joining Flagler, Stormes held management positions at The St. Joe Company, Regency Centers, and Barnett Banks, Inc. He has a Bachelor of Business Administration degree in Corporate Finance from the University of North Florida.
References
Source of the article : Wikipedia
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