Avison Young has entered into an agreement to acquire the office and industrial property management, agency leasing and project management services lines of Madison Marquette. The trio of services will operate under the Avison Young brand and the deal is expected to close in September.
The acquisition includes more than 20 million square feet and 235 team members including property managers, agency leasing professionals, project managers, construction engineers and accountants who will integrate with the markets of ‘Avison Young mainly in Texas and California, the East Coast region and Hawaii, a new market for the company. The combined operations will amplify Avison Young’s presence in 11 states.
“I am delighted to welcome the members of the Madison Marquette team to the Avison Young family,” said Juan Bueno, USA Director and President of Avison Young. “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 our customers.”
At Madison Marquette, CEO Vince Costantini said, “This is a transformative opportunity for both companies to leverage their core strengths to achieve competitive advantage. We made the strategic decision to move a portion of our services to Avison Young to serve better our office. clients and we look forward to a new partnership with the company regarding its industry-leading data analytics platform, AVANT by Avison Young.”
The acquisition also includes the addition of seven industry leaders from Madison Marquette. In Houston, Wade Bowlin will join the company as principal and general manager, Kim Shapiro and Brad Sinclair will be principals focused on agency leasing, and Brenda Dougherty will join as principal and director of property management services from Texas In Irvine, CA Jim Proehl will join as director and director of the western region, property management services and Eileen Doody and Mark Mattis will join as directors specializing in agency leasing.