ATLANTA-In a move to expand its leasing and management platform, Canadian real estate services firm Avison Young has acquired the majority of Barry Real Estate Co.s’ third-party business unit. The Atlanta-based developer’s property management and leasing portfolio adds about 600,000 square feet of office leasing and management properties to Avison’s 50 million square feet of assets under management in the U.S. and Canada. Financial terms of the deal were not disclosed.

Avison Young immediately assumes property management of four buildings in Atlanta totaling nearly 600,000 square feet: 30 Allen Plaza; Lenox Plaza; Lenox Center; and 2045 Peachtree. Avison Young will also handle the leasing in 30 Allen Plaza and 2045 Peachtree. Major tenants in 30 Allen Plaza include the Southern Company, and the law firm of Balch & Bingham LLP.

“This acquisition expands the office side of our agency platform and is a deliberate step in executing on our growth plan,” Steve Dils, Avison Young principal and managing director of the company’s Atlanta office, said in a statement. “The expansion is a logical move for us, and we are excited about our new relationship with the owners of these properties and the opportunity to continue our growth.”

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.