Avison Young Adds 20 MSF to Management Portfolio with Madison Marquette Deal
By Mark Hallum August 19, 2022 1:14 pm
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Weeks after the departure of two key players from Avison Young’s New York City leadership team, the firm is adding up to 235 staff members from the acquisition of three service lines from the Washington, D.C.-based Madison Marquette.
Madison’s property management, agency leasing and project management service lines will merge with Avison Young, and the company will focus on other areas of its business.
“Both organizations are aligned with the cultural mindset that focuses on people first and embraces the diversity of experiences that our people bring to our business and to our clients,” Juan Bueno, principal and U.S. president at Avison Young, said in a statement.
Not only will the deal add to Avison Young’s headcount without layoffs for either firm, but it will add about 20 million square feet of office and industrial assets under management to their portfolio in Texas, California, Hawaii and the east coast cities. The terms of the deal were not disclosed.
In Texas, Avison Young will gain 68 assets with a sum of 12.2 million square feet. Some notable buildings include the CenterPoint Energy Tower at 1111 Louisiana Street and the Matron Oil Tower located at 5555 San Felipe Street, both in Houston.
Avison Young’s Southern California portfolio — with 8.1 million square feet of Class A office, retail and industrial space — will grow significantly with 4 million square feet under management by Madison Marquette being added from 28 buildings on 17 properties.
“We made the strategic choice to move a portion of our services to Avison Young to better serve our office clients… with respect to their industry-leading data analytics platform, AVANT by Avison Young,” Madison Marquette CEO Vince Costantini said in a statement.
With management of their office and industrial assets to a large degree moving over to Avison Young, Madison Marquette will be able to shift their energy toward specifically medical, senior living, retail and mixed-use endeavors.
“Madison Marquette will now be able to focus on enhancing and growing its core investment management programs and advisory services, which includes its retail and mixed-use property management and development activities,” Madison Marquette chairman Amer Hammour said in a statement.
Some of the regional leaders that are taking up titles include Wade Bowlin will join Avison Young as managing director; Kim Shapiro and Brad Sinclair who will be principals focusing on agency leasing; Brenda Dougherty who will join as director of Texas real estate management services; Jim Proehl will be director of management services in the western region based out of Irvine, Calif.; lastly, Eileen Doody and Mark Mattis will join as principals specializing in agency leasing.
Mark Hallum can be reached at mhallum@commercialobserver.com.
