Avison Young Buys More Madison Marquette Businesses

About 18 months after acquiring several business lines from Washington, D.C.–based Madison Marquette, Avison Young has bought several more, the Washington Business Journal reported.

This time, the Toronto-based CRE company has acquired Madison Marquette’s specialty leasing, retail property management, marketing and leasing businesses. All in all, these encompass more than 6.1 million square feet of assets nationwide and 37 personnel across 10 states.

The deal reportedly closed on Jan. 1, under undisclosed terms.

Madison Marquette’s Gavin Farnam, who headed the firm’s retail property management and leasing teams, will carry out the same responsibilities for Avison Young as principal & managing director of U.S. retail services.

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Madison Marquette is co-developer of The Wharf on Washington’s Southwest waterfront and will retain access to the retail team, to manage and lease retail space in its mixed-use portfolio. In turn, Avison Young will be able to tap Madison Marquette’s investment and development advisory services.

In an interview, Harry Klaff, principal & U.S. president at Avison Young, told the WBJ that he anticipates more acquisitions through this year.

Among the executives in different regions around the country who are moving from Madison Marquette to Avison Young are Heather Almond, who will lead property management and marketing strategy; Meghann Martindale, who will lead research; Steve Toppel, who will serve as principal for retail leasing; and Dave Brown, who will serve as principal of specialty leasing.

Act I

In August 2022, Avison Young acquired Madison Marquette’s office and industrial property management, agency leasing, and project management service lines, adding more than 20 million square feet under management to its portfolio and 235 personnel to its team.

The acquisition brought AY into Hawaii and added to its presence in 11 states, including Texas, California and the East Coast.

But that earlier deal had another side: It created a partnership that enables Madison Marquette to access Avison Young’s data analytics, technology and global real estate platform, AVANT by Avison Young.