Firm acquires full retail services from Madison Marquette

Chicago, IL – Avison Young has signed a venture agreement to acquire Madison Marquette’s retail property management, retail marketing, retail leasing and specialty leasing services across the U.S. The full retail platform will operate under the Avison Young brand effective January 1, 2024. The acquisition includes more than 6.1 million square feet (msf) of combined leasing, property management and specialty leasing assets throughout the U.S. and adds 35-plus team members including, property management, property accounting, marketing, market intelligence, agency leasing and specialty leasing professionals. The teams will integrate with the firm’s markets in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta, Florida and adding a new market for the firm in Seattle.

This agreement deepens the continuing partnership between Avison Young and Madison Marquette that began in 2022, when Avison Young acquired Madison Marquette’s office and industrial property management, agency leasing and project management service lines. With this latest agreement, the firm now gains a proven retail leadership team with vast experience in addressing complex retail needs. By strengthening Avison Young’s retail platform and market intelligence teams, it is well-positioned for continued growth and success. The strategic investments made by the firm are part of an ongoing expansion of its service offerings to support occupiers, owners and investors across an array of sectors as they navigate through accelerating marketplace needs during challenging times.

Under the agreement, Avison Young and Madison Marquette will strengthen its partnership with an opportunity to enhance client services and revenue for both parties, with Madison Marquette’s primary value stemming from the growth of client services. Madison Marquette will continue to have access to the retail team to manage and lease its retail and mixed-use assets and Avison Young will have the ability to tap Madison Marquette’s investment and development advisory services for its clients. 

“By acquiring Madison Marquette’s full retail services, Avison Young is expanding its commitment to building a national retail platform to serve the needs of investor and occupier clients,” said Harry Klaff, Principal and U.S. President at Avison Young. “Building expertise within our retail business has been a priority for Avison Young in the United States and this transaction delivers a critical first step in our build within the retail sector – providing leadership for our retail business as well as capabilities in leasing, property management, marketing, advisory and data and analytics.”

“Avison Young is going all-in into the retail sector, and I am eager to take the firm’s vision of expanding its retail platform to the next level with the help of our strong team of retail leasing, management, marketing and market intelligence experts and Avison Young’s innovative data capabilities,” said Farnam. “I am excited that the relationship between Avison Young and Madison Marquette continues to develop, allowing each firm to capitalize on their own strengths and better serve their clients."

Avison Young’s transformative expansion of the firm’s retail capabilities also includes the addition of five seasoned, award-winning leaders in retail services, retail market intelligence and specialty leasing coming from Madison Marquette.

• Gavin Farnam, Principal, Managing Director US Retail Services, with more than 20 years of real estate experience, Farnam will lead Avison Young’s U.S. retail property management and leasing teams and is based in Northern California.
• Heather Almond, Principal, Senior Director US Retail Services, a 20-plus year veteran of the retail real estate industry will focus on property management and marketing strategy for the firm’s retail portfolio and is based in the Seattle market.
• Meghann Martindale – Principal, Director Market Intelligence, Retail, has more than two decades of industry-leading deal-making and research experience. She will lead Avison Young’s retail trend analysis, forecasting and insights for the firm’s U.S. Market Intelligence team and is based in Los Angeles.
• Steve Toppel - Principal, Retail leasing is based in Dallas, TX and has been in the commercial real estate business for more than 30 years. He specializes in retail leasing with national portfolios that include malls, high street retail, redevelopments and retail power centers.
• Dave Brown, Principal, Specialty leasing, is a 30-year veteran of retail real estate who has built solid partnerships with national and international retail brands. He is responsible for leading the firm’s specialty leasing and sponsorship efforts.

“This agreement reflects Madison Marquette’s continuing transformation, enhancing our strategic partnership with Avison Young, and expanding our access to their team and resources,” said Madison Marquette Executive Chairman Amer Hammour. “Our core investment management team will remain focused on producing industry leading returns for our investment clients and we look forward to collaborating with Avison Young on future projects and initiatives.”