Flagler Global Logistics’ Chris Sutton , Vivo Real Estate Group’s Carlos Velasquez Join Forces, Launch Brokerage

VS Real Estate (VSRE) is a new full-service commercial real estate services firm launched by two of South Florida’s most prominent names in the industry, Carlos Velasquez, SIOR and Chris Sutton, SIOR.

With more than 40 years of combined industry experience, the duo has created an integrated services platform that offers a full suite of real estate development and brokerage services for a range of commercial property types, including industrial, office, and multifamily. This unique approach to commercial real estate services is aimed at delivering comprehensive solutions to clients.

Prior to cofounding VSRE, Velasquez served as Executive Managing Director at Vivo Real Estate Group, a top ranked industrial real estate brokerage firm in South Florida. As one of the company’s first employees, Velasquez played a pivotal role in the firm’s growth and success over the past two decades. He is a nationally recognized powerbroker who has facilitated more than $2.5 billion in commercial real estate transactions and will oversee VSRE’s brokerage services division.

Sutton most recently served as President of Flagler Global Logistics, the largest industrial real estate developer in Florida. During his 10-year tenure, he executed the historic company’s merchant development strategy, delivering more than 50 industrial buildings totaling 11 million square feet and $2.2 billion in asset value. Under his leadership, Flagler garnered numerous industry awards, including the prestigious NAIOP Developer of the Year. Sutton will now utilize his extensive expertise to manage and grow VSRE’s development services division.

“Through our partnership, we have created a robust real estate services platform that allows us to better serve our long-standing clients with a single-source real estate solution,” Velasquez said. “With access to both premier existing facilities and unparalleled development capabilities, we are equipped to deliver exceptional value to our clients. Working with a dedicated, experienced provider, our clients can trust in our commitment to their long-term success.”

 

Sutton, who is transitioning Flagler’s development team to VSRE, added, “As we evolve beyond the Flagler umbrella, we are excited to launch VSRE and offer the marketplace access to one of Florida’s most trusted commercial real estate development teams. With a proven track record of delivering world-class development projects on time and within budget, we are committed to maintaining excellence and eager to continue our legacy of success under this new venture.”

VSRE has made a strong entry into the market, with an impressive list of clients that includes CenterPoint Properties, The Graham Companies, J.P. Morgan Asset Management, Link Logistics, Lucky Property Management, The Peter Lawrence Company, Seagis Property Group, Sunbeam Properties, and Terreno Realty Corporation, among others. Their portfolio spans more than 12 million square feet of leasing assignments, which includes prominent properties such as Americas Gateway Park, Countyline Corporate Park, Miami Lakes Business Park, Miramar Park of Commerce, and South Florida Logistics Center. In addition, VSRE is currently working on the development of 3 million square feet of commercial space, including the final phase of undeveloped land at Countyline Corporate Park.

“Carlos and Chris have been instrumental in our success over the past decade as we’ve established a strong foothold and development pipeline in one of the nation’s most sought-after industrial real estate markets,” said John Meyer, Executive Vice President of Terreno Realty. “Their expertise, dedication, and commitment to achieving our market objectives has been invaluable to our growth. We look forward to continuing our partnership with them under the VSRE brand.”

The cofounders have crossed paths for more than 15 years while working on some of the region’s most notable industrial real estate transactions. In 2020, they arranged CenterPoint’s acquisition of four fully leased warehouses totaling 1.5 million square feet at Countyline Corporate Park. This deal represented one of the largest commercial real estate transactions recorded nationally during the COVID pandemic. Additionally, they collaborated on Terreno’s strategic investment into Countyline Corporate Park over the past two years, which included seven fully leased warehouses totaling 1.3 million square feet and 120 acres of undeveloped land with entitlements for an additional 2.2 million square feet of development. The partners have completed more than $700 million of real estate transactions together in the past three years alone. Their shared experience in executing complex deals during challenging times has paved the way for this new partnership.

Prior to his successful commercial real estate career, Velasquez owned and operated a nationally ranked gymnastics and cheerleading business, earning an invitation to participate in the 1996 Olympic Games in Atlanta, Georgia. He is licensed to practice real estate brokerage in Florida and is a member of the Society of Industrial and Office Realtors (SIOR), which is a network of the top producing commercial real estate brokers in the world. Fluent in English and Spanish, Velasquez is proud of his Central American heritage.

Sutton began his commercial real estate career with The Staubach Company where he served in various industrial real estate brokerage capacities. The United States Army veteran served six years as an infantry officer with combat deployments to Afghanistan and Iraq. Sutton earned his Bachelor of Science from the United States Military Academy (West Point). He is a licensed Florida real estate broker and member of SIOR. Dedicated to giving back to his community, Sutton serves on the board of the Athletic Angels Foundation, which is a non-profit organization dedicated to providing underprivileged and at-risk youth with vital resources, opportunities, experiences, and mentorship through athletics.

Eleven additional employees followed Sutton and Velasquez to VSRE including ten who worked at Flagler Logistics’ in the areas of development, infrastructure, and construction and three brokers from Vivo. VSRE’s 13 employees will be based out of a new 6,400 square foot office at Flagler Station Business Park.

VSRE has also been contracted to develop apartment buildings, retail, and offices.