The Latest Bespoke Brokerage Firm Launches
James Chung launches the Econic Co., the latest in a string of bespoke brokerage firms to launch since the start of the pandemic.
Commercial real estate veteran James Chung has launched the Econic Co., a boutique retail brokerage firm based in San Jose and representing clients nationally. The firm is the latest in a string of bespoke brokerage companies to launch since the onset of the pandemic.
Chung will serve as founder and president of the new firm. He has 20 years of experience in the retail market with an impressive roster of clients that include Adidas, Sur La Table, Starbucks Coffee, AT&T and Living Spaces as well as developers and REITS, including Federal Realty, Hunter Properties and Kimco. Prior to launching the firm, he was an executive managing director at Cushman & Wakefield and was regularly ranked as a top producer. Through his career, he has represented both national and regional tenants and landlords, including Fortune 500 companies. He currently represents more than 15 million square feet in the Bay Area.
Chung plans to leverage his impressive career to represent clients at the Econic Co. through what he calls “a landscape unlike any other in recent memory,” referring to the pandemic and the market dislocation.
Bespoke brokerage firms have become a popular response to the pandemic and the market change. Last year, Brandon L. Singer, also a former retail broker at Cushman & Wakefield, launched a retail real estate leasing and advisory firm called Retail by MONA. The company has partnered with and investors including Aby Rosen and Michael Fuchs, founders of RFR Holding and will provide both tenant and landlord representation. Singer will serve as CEO and founder of Retail by MONA. Michael Cody, also formerly of Cushman & Wakefield, will serve as director and co-founder of the new entity.
Last summer, yet another Cushman & Wakefield broker Ericka Witkowski launched the commercial real estate firm, Witko Group in Miami, Florida. Specializing in representing owners, landlords and tenants throughout South Florida, Witko Group will advise clients in adopting technology programs. The firm will additionally offer a cloud-based platform for clients to access real-time reports, updates and contracts.
In June, Kara Riggle Collesano and Yumi Goodman opened the doors to Indianapolis-based 92c Partners, a bespoke firm named for Indiana’s 92 counties. The firm will offer brokerage, strategic planning, project management, lease audits, and portfolio administration.