LOS ANGELES-Toronto, ON-based commercial real estate services firm Avison Young has acquired Starrpoint Commercial Partners Inc., a full-service commercial real estate brokerage firm specializing in the Santa Monica submarket here. Starrpoint has an emphasis on representing high-tech and media firms that have migrated to “Silicon Beach,” another term for the Santa Monica market. The change in ownership brings industry veteran Randy Starr, founder and CEO of Starrpoint, and Tim Dornan, Starrpoint’s principal, to Avison Young’s L.A.-area operations.
The newest American office marks Avison Young's third Los Angeles location and an additional step in the firm's aggressive growth and expansion strategy. Terms of the acquisition were not disclosed. The purchase further expands Avison Young’s market and business-line coverage in the L.A. area.
Effective immediately, Starrpoint’s current office at 301 Arizona Ave., Suite 202, in Santa Monica, will be rebranded as Avison Young. Also effective immediately, Starr becomes a principal of Avison Young and will lead the company’s efforts to expand its presence and generate transaction volume in Silicon Beach. Dornan will be VP in the region to support those efforts and will be heavily involved in additional business development.
“Avison Young’s principal-led culture, whereby solutions are created and executed by the very people who have reputational and financial accountability to clients, is something I look forward to being a part of,” said Starr in a prepared statement. “Tim and I were impressed with how Avison Young has been strategically building its brand across North America and expanding in all facets of the commercial markets. More importantly, we know our clients stand to benefit the most as we integrate into Avison Young’s best-in-class North American brokerage platform.”
According to Mark Rose, Avison Young’s chair and CEO, “The Southern California region is a critical growth area for Avison Young. The acquisition of Starrpoint allows Avison Young to partner with one of the most dominant real estate players in the Santa Monica market, as well as immediately create a stronghold and identity associated with some of the most influential and creative transactions that have taken place in the Santa Monica Marketplace.”
Over the past four months, Avison Young has also opened offices in San Francisco, New York, Pittsburgh and Charleston, SC. As GlobeSt.com previously reported, we exclusively learned in July that had acquired Las Vegas-based commercial property management firm, Landry & Associates Inc. The purchase added 2.6 million square feet to Avison Young’s property-management portfolio, which already consisted of approximately 50 million square feet of retail, industrial and office properties.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
