SoFla’s Illustrated Properties Launches Commercial Division

Illustrated Properties is making a bigger leap into commercial real estate with the launch of a division led by industry veteran Shane McCain as the brokerage looks to expand beyond its residential roots in Palm Beach County and the Treasure Coast.

McCain will serve as director of commercial real estate for the Palm Beach Gardens-based firm, which has more than 600 agents across 20 South Florida offices. The division will provide brokerage and advisory services to investors, developers and business owners across the office, retail, industrial, multifamily, land, hospitality and medical sectors.

McCain said Illustrated previously had a commercial operation, but the company is now investing in resources and talent to revive and expand the platform.

McCain sees the land sector as a key area of opportunity for the firm because demand is strong for development sites in northern Palm Beach County and the Treasure Coast as population growth and land constraints between the coast and the Everglades push development north.

He said the office asset class continues to face hurdles as companies reevaluate their workspace needs since remote work took off during the pandemic and tenant expectations evolved to newer, Class A buildings.

In terms of talent, he said the division intends to prioritize quality over quantity, with plans to add a dozen employees at the pace of one a month. The firm intends to hire agents with Certified Commercial Investment Member Institute credentials.

McCain serves on the board of the CCIM Institute and was named president-elect for the organization this year. He is also a recipient of the Noble Properties Scholarship, an award recognizing achievement in commercial real estate.

Illustrated’s commercial launch comes as brokerages across South Florida diversify their services and chase a larger share of commercial transactions as more businesses and people migrate to the region.

Founded more than 50 years ago, Illustrated is one of South Florida’s largest independent, luxury residential brokerages. The company is led by father-daughter duo CEO Mike Pappas and President Christina Pappas.

Illustrated finalized its merger with The Keyes Company in 2016. Since then, Keyes has expanded through acquisitions, including Plantation-based Coral Shores Realty and Fort Pierce-based McCurdy & Co. Realty. In 2024, both Keyes and Illustrated joined Forbes Global Properties network, the invitation-only luxury listings group for independent brokerages with a listing threshold of $1 million.