|Former Commercial Texas founder and principal owner Mike Kennedy has become a principal and managing director of AY's Austin office.|
Toronto-based Avison Young has acquired Commercial Texas, LLC, an Austin, Texas-based commercial real estate services firm, giving it 11 new employees and a new office in Texas.
Founded in 1997, Commercial Texas handled more than $67 million in lease and sales transactions in 2013. Following the acquisition, former Commercial Texas brokers Michael Kennedy, Carl Condon, Chrissy Cornelius and Burke Kennedy were named principals of Avison Young. Kennedy, who was the founder, president and principal owner of Commercial Texas, was named managing director of AY's new Austin office.
"Mike Kennedy and his team are highly regarded as top real estate professionals in Austin. Their joining us is a major brand-elevating event for Avison Young in Austin and throughout Texas," said Mark E. Rose, Chair and CEO of Avison Young.
Also joining the fast-growing Canadian firm from Commercial Texas were John Baird as senior vice president; Ryan Rice as associate; Patrick Kennedy as operations manager; Andrew Alizzi as research coordinator, Susan Murray as administrative coordinator; Danielle Percy as client service coordinator; and Randa Stringer, marketing coordinator.
Avison Young opened its first Texas office in Houston in June 2010 with Rand Stephens joining the firm as a principal and managing director. The company opened its Dallas office in July 2011, and acquired Dallas-based tenant representation firm Dillon Corporate Services/Cresa Dallas in October 2013.
The new office in Austin is Avison Young’s 40th office in the U.S., and 42nd office outside of Canada. Over the past five years, Avison Young has grown from 11 to, now, 57 offices in 46 markets and from 300 to more than 1,500 real estate professionals across Canada, the U.S., and in Europe.