MEXICO CITY—Avison Young has moved into the Mexican market, opening its first office here andhiring two industry veterans to run it. Guillermo Sepulveda and Emile Sarraf have joined AY as principals, coming aboard as managing director and SVP, respectively, of the Mexico City office.

"By expanding into Mexico, Avison Young will now be able to cover all of North America, providing a full slate of commercial real estate services to clients in Mexico, Canada and the US," says AY CEO Mark Rose. "This added capability will allow Avison Young to service its growing clientele in one of the world's most economically dynamic regions, create immediate synergies and complete more cross-border transactions, particularly with our nearby clients in California and Texas."

He adds, "You can't fully service multinational clients in North America without the Mexican piece of the puzzle. With the way our clients are set up, they need local experts who know how to deliver consistent results regardless of the location. In this sense, Mexico becomes highly strategic for us, and also offers the opportunity for more transactions involving our clients in the UK and Germany."

Sepulveda brings more than 25 years of commercial real estate experience to Avison Young, most recently as president for Mexico and Latin America at DTZ, which recently merged with Cushman & Wakefield. Sarraf brings more than 30 years' CRE experience, most recently as COO for Mexico and Latin America at DTZ.

In all, 10 members have joined the Mexico City office, including seven from the former DTZ Mexico office. Sepulveda and Sarraf will look to grow the new office rapidly with additional professionals.

Along with its importance to multinational clients, Mexico stands as an important CRE market in its own right. AY notes that the OECD forecasts the country's population growing 13% by 2030, driving demand for goods and services.