Now, he’s working to make a name for himself in commercial real estate. Edlefsen has joined Cresa South Florida’s industrial services team as an advisor. Prior to playing professional baseball, Edlefsen spent time building his commercial real estate knowledge at The Staubach Company’s Miami office.
“Cresa South Florida has made a strong commitment to expand our industrial platform,” says Sky Groden, Cresa South Florida’s Principal of Industrial Advisory Services, who joined the firm in January to lead the industrial charge. “Steven is an exceptional performer and we are fortunate he decided to join our growing tenant representation practice. His skill sets complement our goals to provide the most professional, comprehensive support for industrial tenants looking for space in South Florida.”
Edlefsen gained experience and understanding advising clients in lease negotiation, lease renewals, property analysis and business development during his time at Staubach, which later merged with Jones Lang LaSalle in a $613 million deal. At Staubach, he learned about managing customer relationships, which is key to Cresa’s platform as a tenant-only firm.
“I enjoy the aspect of focusing solely on client needs and not having to balance the conflict of interest that exists in the industrial real estate market with brokerage firms representing both landlords and tenants,” says Edlefsen. “You can bank on the integrity that your client is your number one priority and there are no hidden agendas with landlords.”
According to Cresa’s third quarter 2014 report, the North American industrial market is seeing strong demand with 100 million square feet of absorption in the quarter and vacancy rates dropping to 7.7%. Miami reflects national industrial growth trends. Companies from outside Florida are moving in to build speculative industrial developments, industrial assets are trading at strong values, and space is being absorbed.
“On a national level, Cresa has been historically known on the office, hospitality and healthcare side of the business,” says Groden. “There’s a major resurgence of industrial real estate nationally—and in South Florida. Industrial growth is booming because trade growth continues rising. We see no end in sight and we’re glad to have Steve on the team to help us serve more tenants looking for industrial space in Florida.”
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