From the Wires
Avison Young opens fourth Los Angeles office
By: PR Newswire
Nov. 6, 2012 11:00 AM
Commercial real estate firm continues aggressive expansion in Southern
TORONTO, Nov. 6, 2012 /PRNewswire/ - Mark E. Rose, Chair and CEO of Avison Young, Canada's largest independently-owned commercial real estate services company, announced today the opening of a newly-formed office in Downtown Los Angeles.
The newest American office marks Avison Young's fourth Los Angeles location and an additional step in the firm's aggressive growth and expansion strategy.
Over the past three and a half years, Avison Young has grown from 11 to, now, 41 offices in 33 markets and from 300 to more than 1,100 real estate professionals across Canada and the U.S.
Effective immediately, retail industry veteran Derrick Moore joins Avison Young as a Principal and will be based in the firm's new Downtown Los Angeles office. He will lead the company's retail efforts in Downtown L.A., as well as expand the firm's presence and generate transaction volume in the Downtown market. Widely recognized in commercial real estate circles as one of the industry's leading retail experts in Los Angeles, Moore was most recently a First Vice-President with CBRE in L.A.
Chris Cooper, Avison Young Principal and Managing Director of the Southern California region, will relocate to the new Downtown Los Angeles office from Avison Young's Los Angeles West office. A 27-year industry veteran, Cooper has spent almost his entire legal and real estate professional careers in Downtown Los Angeles.
"The Southern California region is a critical growth area for Avison Young. Bringing Derrick on board allows Avison Young to partner with one of the most dominant retail real estate players in the Downtown Los Angeles market," comments Rose. "Avison Young remains intensely focused on the retail markets, and Derrick's move to Avison Young allows us to gain a stronghold in this critical client base. We are thrilled to have Derrick join our Principal-led organization. He is a well-respected professional with deep knowledge of the rapidly developing retail and adaptive re-use areas of Downtown L.A."
Rose continues: "Throughout his career, Chris has gained the respect of many of the largest and most sophisticated clients in Southern California and the U.S. This new Downtown office is a strategic office for Avison Young's overall Southern California growth plan."
Today's announcement comes on the heels of Avison Young opening offices in Raleigh-Durham, Detroit and South Florida last month, as well as the acquisition of New Jersey-based project management firm, The Walsh Company, LLC. Since April, the company has also opened new offices in San Francisco, New York, Pittsburgh, Charleston, SC, New Jersey, and a third Los Angeles-area office in Santa Monica.
"We are excited to have Derrick join Avison Young, and we will continue to implement our growth strategy in the key L.A. market," states Earl Webb, Avison Young's President, U.S. Operations. "Recognizing that we are still at the beginning of that process, we intend to add talented professionals, such as Derrick, to our new Downtown L.A. office in the months ahead. Derrick's background and strong work ethic will be invaluable to our organization as we continue to build our business in Southern California and beyond."
Webb adds: "Chris' long history of leadership, and the respect he has earned in the Los Angeles business community, will be of tremendous value to our firm and to our clients as we launch our new Downtown L.A. operations."
Avison Young opened its first Los Angeles office in August 2011 with industry veteran Neil Resnick joining as a Principal, followed by a second Los Angeles office in December 2011 through the acquisition of Ramsey-Shilling Commercial Real Estate Services, Inc. In March 2012, industry leader Chris Cooper joined as a Principal and Managing Director of the Southern California region. In September, Avison Young acquired Starrpoint Commercial Partners, Inc. and opened a third L.A. office in Santa Monica. The new Downtown Los Angeles office will expand Avison Young's Southern California region to four offices and 37 professionals.
"I have known Derrick throughout most of his career and his name is synonymous with Downtown Los Angeles retail. I cannot think of a better catalyst to open our Downtown L.A. office," states Cooper. "Derrick's long history of market dominance, and the respect he has earned in the Downtown real estate community, will be great assets to our organization."
Effective immediately, Avison Young's new Downtown Los Angeles office will be located at 633 West 5th Street, 26th Floor, Los Angeles, CA.
"I am pleased to be part of the growing team that Avison Young is building in the Southern California region," says Moore. "I was impressed with Avison Young's partnership culture, and how the company has been strategically building its brand in Southern California ― and across North America ― and expanding in all facets of the commercial markets. I look forward to working with Chris and supporting my new colleagues in their ability to deliver the most comprehensive solutions to clients' real estate needs."
The Downtown L.A. office market comprises 54 buildings totaling 27.3 million square feet (msf). Downtown also boasts a residential population of 49,000 people, representing a 162% growth rate since 2000. The market has been the beneficiary of $16 billion of private-sector investment dollars since 2000. Primary industries include: finance, professional and business services, legal services, technology, creative disciplines, architecture, entertainment, design firms, foreign banking, insurance and retail. There has been a major influx of hospitality openings in the past decade, creating a dynamic and rich amenities base. Sports and entertainment has also played a pivotal role in the Downtown L.A. renaissance, starting with the development of the STAPLES Center in 1999, where four professional teams currently play.
Regional research director Connie Hwang will also be relocating to the new office from Avison Young's Los Angeles West office.
Cooper's impressive track record of closed real estate transactions, valued in excess of $3.5 billion, include such notable Downtown L.A. deals as Prudential Insurance Company of America's 296,000-sf Downtown L.A. master plan consolidation; Skadden, Arps, Slate, Meagher & Flom's 146,000-sf Downtown L.A. renewal; and Microsoft Corporation's relocation from Santa Monica to Downtown L.A. Cooper has served on several boards and executive committees focusing on the growth of Downtown L.A., including the Downtown Central City Association Executive Committee, Los Angeles County Economic Development Corporation Executive Committee, BOMA Greater Los Angeles Advisory Board, and the Los Angeles Mayor's Economy and Jobs Committee.
Moore is a member of the International Council of Shopping Centers (ICSC), American Industrial Real Estate Association (AIR), and USC Marshall School of Business Alumni. He holds a Bachelor of Science in finance and business economics from the University of Southern California (USC).
In February, Avison Young was named a winner of Canada's 50 Best Managed Companies program for 2011, sponsored by Deloitte, CIBC, National Post and Queen's School of Business.
Founded in 1978, Avison Young is Canada's largest independently-owned
commercial real estate services company. Headquartered in Toronto,
Ontario, Avison Young is also the largest Canadian-owned,
principal-managed commercial real estate brokerage firm in North
America. Comprising more than 1,100 real estate professionals in 41
offices across Canada and the U.S., the full-service commercial real
estate company provides value-added, client-centric investment sales,
leasing, advisory, management, financing and mortgage placement
services to owners and occupiers of office, retail, industrial and
For further information/comment/photos:
• Sherry Quan, National Director of Communications & Media Relations, Avison Young: (604) 647-5098; cell: (604) 726-0959
• Mark Rose, Chair and CEO, Avison Young: (416) 673-4028
• Earl Webb, President, U.S. Operations, Avison Young: (312) 957-7610
• Christopher Cooper, Principal & Managing Director, Southern California Region, Avison Young: (213) 935-7435
• Derrick Moore, Principal, Avison Young: (213) 935-7433
Avison Young's new Downtown Los Angeles, CA office: 633 West 5th Street,
26th Floor, Los Angeles, CA 90071
Avison Young is a winner of Canada's 50 Best Managed Companies program for 2011, sponsored by Deloitte, CIBC, National Post and Queen's School of Business
Follow Avison Young Bloggers: http://blog.avisonyoung.com
SOURCE Avison Young Commercial Real Estate (BC)
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