CHICAGO, TORONTO—In the past few years, Avison Young has expanded across Canada and then the US, opening dozens of offices to better serve its globe-trotting clients. And the firm has just opened its first European office by acquiring Haywards LLP, a London-based commercial real estate services firm. Mark E. Rose, the Chicago- and Toronto-based chair and chief executive officer of Avison Young, tells GlobeSt.com that this new location is the launching pad for a European expansion.
“This has all been part of the strategic plan put forward five years ago,” he says. “Everything we do is dictated by clients and many of our clients are global.” For example, last year the firm helped Germany-based Hannover Leasing GmbH & Co. KG on the approximately £142 million sale of 30 Crown Place, a 192,070-square-foot office building in London.
“I don't think we need to be in every country in the world, but it was time to put our flag down in Europe,” Rose adds. “And like New York, London is a massive hub for the financial industry and one of the biggest real estate sandboxes in the world.”
Avison first built out its business in Canada, then moved on to the US, opening about 40 offices in the last three-and-a-half years. It will now open others overseas, most likely going next to Germany or other cities in the UK.
The London acquisition brings 20 new employees to Avison Young, which now has more than 1,500 real estate professionals, up from about 300 just five years ago. Established in 1992, Haywards, the UK member of NAI Global, provides full-service commercial real estate services, including strategic planning, project implementation, acquisitions, dispositions, development and property management.
Effective immediately, Haywards partners Nick Cook, Tony Oxford, Iain Rackley and Sarah Cook become principals of Avison Young. Nick Cook also becomes managing director of the London and Thames Valley offices. He will manage the day-to-day operations and lead expansion efforts in London and the rest of the UK.
“Avison Young's ambition to become a global player, but to be of a size that could still provide high-quality personal service aimed solely at the clients' well-being, fits perfectly with Haywards' way of doing business,” he says.
”We wanted to establish our foothold with established industry leaders who have the necessary experience, knowledge and business relationships to guide us in the region,” Rose adds. “It's one thing to just execute an expansion policy and another to do it properly. And we are singularly focused on finding the right people way before we concern ourselves with growing revenue or size.”
Rose and other Avison officials have also set their sights on the lucrative markets in Asia. “But we will not lose focus or take those steps until we have the critical mass we need in Europe.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
