LAS VEGAS-Avison Young, a brokerage firm based in Toronto, has opened its ninth US location here. The company has hired Joseph Kupiec, formerly with Grubb & Ellis, as principal and managing director.
Mark Rose, chairman and CEO, says the new office is both part of the firm’s expansion into the US and a push by the company into the western part of the country. Previously, the firm only had three offices west of Chicago, including two in Texas and one in Los Angeles, an office launched in August.
Rose says he’s still on the expansion tear in the United States, and also hopes to open an international office soon. Over the past three years, the company has grown from 11 offices to 25, and company officials say this new location will be a big part of West plans.
Kupiec tells GlobeSt.com that he used to work with Rose, and is excited to be part of Rose’s principal-led office style. “This culture has a very strong appeal,” Kupiec says. “The brokerage business is certainly changing, and you can see where the strongest are going to survive. I also think this is perfect timing for Mark to enter the Vegas market, I always thought with everything going on, the next new firm will be the top firm for the next three-to-five years.” A Grubb & Ellis spokeswoman confirmed that Kupiec has left the company, but says she doesn’t want to comment further.
The Vegas commercial real estate market is still at bottom, he says, still led by tenants and buyers and with unemployment hovering around 14%. However, Kupiec says this bottom is creating a lot of opportunity, and a lot of investment chasing this opportunity. “People will still want to come here for the same reason they did five-to-seven years ago, this is still an attractive destination,” he says. “I really think with the amount of investment here, and the benefits of being in Nevada, we’ll be one of the first markets to emerge strong from the recession.”
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