Avison Young, a Toronto-based company, has recently taken over management of Pacific Place mall located in downtown Seattle. This acquisition was part of a larger deal announced earlier this week where Avison Young acquired all retail operations from Madison Marquette, based in Washington D.C., which includes 6.1 million square feet of retail space across the country.
Although Madison Marquette still owns the property after purchasing it for $271 million in 2014, Avison Young has now added its own expertise to manage and market the mall’s offerings. With their expansion into the retail sector and access to innovative data capabilities, Avison Young is confident that they will take their vision to new heights with their team of experienced professionals specializing in leasing, management and marketing services.
The recent acquisition by Avison Young highlights its commitment towards expanding its presence within the U.S. retail market as stated by Gavin Farnam – principal and managing director for U.S. Retail Services at Madison Marquette – who expressed his eagerness to work alongside his team along with leveraging on Avison’s strong platform for growth opportunities within this sector.
This news was originally published on Connect CRE website.
