Retail

TORONTO AND WASHINGTON, D.C. — Avison Young has entered into an agreement to acquire Madison Marquette’s retail platform for an undisclosed price. The acquisition will include the Washington, D.C.-based firm’s retail property management, marketing and leasing services throughout the United States; and a portfolio comprising more than 6.1 million square feet of properties managed and leased by Madison Marquette. Madison Marquette teams will integrate with those of Toronto-based Avison Young in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta and Florida, and the acquisition expands Avison Young’s presence to Seattle. In 2022, Avison Young acquired Madison Marquette’s office and industrial property management, agency leasing and project management service lines. “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,” says Gavin Farnam, principal and managing director of U.S. retail services with Madison Marquette. Farnam will lead Avison Young’s U.S. retail property management and leasing teams.