During the past week Toronto based Avison Young has purchased two CRE firms in Florida. On Monday the company announced its purchase of Miami-based CRE brokerage and property management firm Abood Wood-Fay Real Estate Group LLC, which has been doing business as Colliers International South Florida. On Thursday, Mark E. Rose, Chair and CEO of Avison Young, revealed the company had also purchased MRCE, an Orlando-based company conducting business as Morrison Commercial Real Estate.
The acquisition of Abood-Fay brings Avison Young’s total square feet of leasing and investment sales property under representation throughout Florida to 20 million square feet. The company will also take over Abood Fay’s property management portfolio, bringing AY’s total square footage in Florida to 11 million square feet.
Speaking about its acquisition of MCRE, Rose said that “Orlando represents one of the three major markets in the state that Avison Young now operates out of. The city’s significant population base – the third largest metro area in the state – and mass appeal to both owners and tenants make Orlando a natural hub for Avison Young to have a home base from which to serve our growing client base.”
Avison Young opened its first Florida offices in October 2012 in Fort Lauderdale, Boca Raton and Miami with Pike Rowley joining as a Principal and Managing Director. Subsequent acquisitions include WG Compass Realty Cos. and Lane Witherspoon & Carswell Commercial Real Estate Advisors, allowing the company to open new offices in West Palm Beach and in Tampa.
