Stiles Realty Taps Industry Veteran Paul Marko as President
By Barbra Murray, Contributing Editor
CBRE Group Inc.’s loss is Stiles Realty’s gain, as Paul Marko prepares to take on the role of president at Stiles Realty, the brokerage and leasing division of top Florida commercial real estate services company Stiles. He will step into the shoes of Stiles Realty’s longtime president, Tom Kates, who is planning to retire after 27 years with the firm.
Marko, who spent the last 12 years of his two-decade career as a first vice president at CBRE, will have his hands full spearheading Stiles Realty’s expansion in the Sunshine State. “Our vision is to grow the brokerage business, with a focus on third-party business,” Marko told Commercial Property Executive. “I know that’s been a strategic focus for Stiles before I got here, but now with me in place, I think they have the right tools to execute that part of the business here.”
The goal is to enhance the firm’s presence across Florida while also increasing its foothold in core South Florida markets. Marco will lead the effort, concentrating on bolstering operations, broker retention, recruiting and professional development. Miami-Dade is high on the radar for expansion, as is West Palm Beach. Tampa and Orlando will see more of Stiles Realty as well.
Timing is always key. South Florida certainly did not escape the real estate downturn, but the worst appears to be over. “We’re coming out of the soft market that we’ve seen in the last few years,” said Marko. “The market’s conditions are tightening, the demand is there, the rents are ticking up a bit and the concessions are lessening, so we see some great opportunities to expand the third-party service.”
The market, however, is not without its challenges, one of which is that the area has been built out. “We had available land in the past and now we have to focus our efforts on the redevelopment of existing office, industrial, retail complexes and so forth, so I think it dovetails well with the tools that Stiles offers,” he explained. “We’ll work closely with our realty group; we’ll work closely internally with the development and architecture and construction resources that Stiles has been so successful with for so long.”
Marco will have to juggle more than a few responsibilities, but Stiles leadership is confident that he is equal to the task. “Paul has a deep knowledge of the local market, proven ability to build long-term relationships with clients and track record of success in the leasing and brokerage arena,” Terry Stiles, CEO of Stiles, noted. “With him on the team we will be better positioned to take advantage of new market opportunities while also maintaining our reputation as the leading provider of commercial real estate spaces throughout Florida.”