Avison Young and Madison Marquette signed an agreement where the former is going to acquire a number of service lines from the latter. The lines include Madison Marquette's office and industrial property management, agency leasing and project management service lines.

The business lines will take on the Avison Young brand and the deal is expected to close in September.

"The acquisition includes more than 20 million square feet, and 235 team members including, property managers, agency leasing professionals, project managers, building engineers and accountants that will integrate with the firm's markets primarily in Texas and California, the East Coast Region and, adding a new market for the firm in Hawaii," the release stated. "The combined operations will elevate both the client experience and Avison Young's competitive advantage in the real estate industry, amplifying the firm's presence in 11 states."