Canadian CRE Co. Adds 30 from Flagler Real Estate Services
Toronto, ON-based Avison Young, Canada's largest independently-owned commercial real estate
services company, has continued its U.S. expansion, entering the Florida market by adding 30 members from Flagler Real Estate Services (FRES) LLC, a leading brokerage and property management company in South Florida.
Avison Young said its new Florida operations will be headquartered in Fort Lauderdale, with branch offices in Boca Raton and Miami. The company now employs more than 1,000 real estate professionals and the expansion adds nearly 3.4 million square feet to Avison Young's property management portfolio, which now tops approximately 50 million square feet.
FRES is the service arm of Flagler, one of Florida's oldest commercial real estate companies. Eight former FRES brokers are now newly minted principals at Avison Young, including: S. Pike Rowley and Keith O’Donnell, considered two of the "deans" of South Florida commercial real estate brokerage, each with more than 30 years of experience; A.J. Belt III, a retail property and financing expert; Greg Martin, an office broker who spent 16 years with Cushman & Wakefield and CBRE before Joining Flagler; Wayne Schuchts, who specializes in office and industrial deals for institutional investors and corporate users; Michael Vullis, a property management specialist; Brian Mark, the former VP of finance for FRES following its merger with DBR & Associates in April 2011; and Scott Auker, a multi-family property specialist with more than 15 years of experience in the real estate industry.
Also joining Avison Young are the following brokers from FRES: David Bateman, David Duckworth, Van Barron, Brett Rowley and Jonathan Senn.
"Expanding our brand into the Florida marketplace is an important part of our strategy to establish a strong presence in key markets across the U.S.," commented Mark E. Rose, chair and CEO of Avison Young. "We have always viewed the major Florida markets as critical to our national platform, especially as the demographics continue to shift in that direction, and as capital from both North America and South America continues to seek investments in these markets."
Rowley, previously president of FRES, will become managing director of Avison Young's Florida region. Although details on the factors behind the moves were scarce, Rowley provided perhaps the most succinct explanation when he stated: "Seasoned brokers and real estate executives reach a turning point in their careers where ownership in their company is important to them. Most options include owning your own company, which means running your own company. Avison Young has created a platform that provides an ownership structure without the headaches of operational decisions. This principal/shareholder-based model has attracted the nation's best talent with key executives and producers focused on client solutions."
South Florida, which includes Miami-Dade, Broward, and Palm Beach counties, is the seventh largest MSA in the country.
Avison Young, founded in 1978, most recently opened offices in New Jersey
and a third Los Angeles
office. This year has also seen new offices in New York, San Francisco, Pittsburgh and Charleston, SC.
News Director Tim Trainor contributed to this report.