By Georgiana Mihaila, Associate Editor
Avison Young has expanded its Atlanta property management portfolio by nearly 600,000 square feet, following the Canadian service firm’s acquisition of an office property management and leasing portfolio from Barry Real Estate Cos.
Avison Young will assume management of four buildings totaling approximately 600,000 square feet, effective immediately, reported Steve Dils, principal and managing director for the firm’s Atlanta office. The buildings are 30 Allen Plaza, Lenox Plaza, Lenox Center, and 2045 Peachtree. Avison Young will also be in charge of leasing for 2045 Peachtree and 30 Allen Plaza, where tenants include the Southern Co. and law firm Balch & Bingham LLP. Avison Young will also relocate its Southeastern offices to 30 Allen Plaza immediately.
“This acquisition deepens Avison Young’s presence in Atlanta and is in line with the company’s strategy to further strengthen our property management platform and capabilities in North America,” said Mark Rose, chair and CEO. The firm’s latest acquisition follows Avison Young’s July 2010 purchase of Hodges Management and Leasing Co. and brings the company’s management portfolio in Atlanta to 20 million square feet.
All told, Avison Young manages approximately 50 million square feet of retail, industrial and office properties in Canada and the United States and comprises more than 800 real estate professionals in the two countries.