Avison Young Acquires Madison Marquette Commercial Lines – Commercial Property Executive

Woodbranch III – Linde Plaza, Houston; top right, 5555 San Felipe, Houston, and bottom right, One Hanover Park, Dallas. Image courtesy of Madison Marquette

Avison Young redeems at Madison Marquette which will add more than 20 million square feet under management to its portfolio and 235 professionals to its team.

The acquisition will add a new market in Hawaii and strengthen Avison Young’s growing presence in 11 states, including Texas, California and East Coast markets. The transaction is expected to close in September. Terms of the acquisition were not disclosed.

In Texas, Avison Young will acquire 68 property management assets with a total of 12.2 million square feet. The Houston Market is the largest addition to the property management portfolio with 54 properties totaling 11.2 million square feet. Dallas is adding 14 buildings totaling 966,451 million square feet. Properties include Woodbranch III – Linde Plaza and 5555 San Felipe, both in Houston, and One Hanover Park in Dallas.

The acquisition also adds 27 buildings in California totaling 4.2 million square feet and 2.5 million square feet of assets on the East Coast. In Hawaii, seven properties totaling 1.2 million square feet will be part of the portfolio. Most of the Hawaiian assets are Class A buildings in downtown Honolulu. Large institutional clients are also represented in the portfolio, notably Center point energy, Starwood Realty Trust LLC, and Top Global Investorsaccording to Avison Young.

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Seven Madison Marquette executives will join Avison Young. In Houston, Wade Bowlin will become principal and general manager. He will be joined by Kim Shapiro and Brad Sinclair as directors focusing on agency leasing, and Brenda Dougherty, who will become senior director, Texas Real Estate Management Services. In Irvine, Calif., Jim Proehl will join as Director and Western Region Director, Property Management Services. Eileen Doody and Mark Mattis will join as directors specializing in agency leasing.

The agreement also includes a partnership providing Madison Marquette with access to Avison Young’s data analytics, technology and global real estate platform called AVANT by Avison Young.

Transformative opportunity

Randel Waites, senior director and general manager of the U.S. property management services group at Avison Young, said in a prepared statement that the growth of the company’s property management platform across the United States is a strategic priority. Waites said the transaction underscores the company’s commitment to providing new, improved and expanded services in all markets, especially those critical to the growing needs of their customers.

Madison Marquette CEO Vince Costantini called the transaction a transformative opportunity for both companies to build on their core strengths to gain competitive advantage. Costantini said in prepared remarks that the company made the strategic choice to transfer some of its services to Avison Young to better serve its office customers.

Costantini has been CEO of Madison Marquette since a March 2019 merger with his former company, The Roseview Group, a Boston-based institutional real estate investment and advisory firm. A year earlier, Madison Marquette had merged with PMRGa Houston company.

Amer Hammour, president of the Washington, D.C.-based mixed-use real estate investor, developer and operator, said in a prepared statement that Madison Marquette will focus on improving and growing its core investment management programs. and its consulting services, including retail and mixed business. -use real estate management and development. Hammour said the company will leverage its expertise in the retail, mixed-use, multi-family, office and medical, and senior living sectors.

Avison Young Growth

The Madison Marquette deal is another example of how Avison Young continues to grow its service offerings through acquisitions. In December, Avison Young acquired Dowling Houy, a boutique Boston company specializing in life sciences and project management services. Jeanne MacLellan, longtime director of Dowling Houy, has joined Avison Young as director.

The Dowling Houy transaction was one of many completed in the past year as the company focused on expanding its customer experience and professional services teams to best help occupiers, owners and investors to navigate increasingly complex and accelerated market needs around the future of work and city resilience. In September 2021, the company expanded its presence in debt and equity finance services in New York with the acquisition of The Singer & Bassuk Organization LLC, a real estate finance brokerage and advisory firm and its powerful team of five commercial real estate finance veterans, including SBO founders Andrew and Scott Singer.

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