Lipton tells GlobeSt.com that the company intends to open offices in Maryland and Virginia; the timetable depending on the company's acquisition and recruiting activities. It intends to build out staff--at least 20 brokers by the end of 2010--through hires and acquisition of local firms. He declined to provide additional details about the company's growth plans or go-to-market strategy other than to say the company expects to have closed its first deal by end of Q1 2010.
The DC office is part of Avison Young's larger strategy of building out a network of offices in the US, following its year-long national consolidation in Canada, a process that also included the acquisition of Darton Property Advisors and Managers. In January 2009, the company opened its first US office, in Chicago.
A number of brokerage firms have set up shop or expanded operations in the District recently, including FirstService REA, which brought on board much of the former GVA Advantis team. Other examples include Cassidy & Pinkard Colliers which is building out a tenant rep division.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
