Phoenix, Arizona – David M. Genovese, Avison Young Principal and Managing Director in Arizona, announced today that the firm’s Phoenix office is expanding. It has signed a new, six-year lease totaling nearly 12,000 square feet (sf) that will accommodate its growing team as well as elevate its corporate identity within the greater Phoenix area.
The new offices will be located across the street from the firm’s current 8,000-sf location at 2720 E. Camelback Road, Suite 150. The ground floor space is within the Camelback Lakes office complex, a four-building project totaling 203,290-sf owned by a partnership between DRA Advisors and Mainstreet Capital Partners. Avison Young will relocate its 50 Phoenix-based employees on June 1, 2020.
“Despite talk of a slowdown in the economy on a national basis, the Phoenix market continues to remain strong with excellent fundamentals. Phoenix is a robust market and our growth has resulted in our investment in 12 new employees in 2019. We have maxed out of our current space,” said Genovese. “We wanted a modern, flexible and collaborative environment for our growing team, as well as better exposure to the market along the Camelback corridor.”
The new space will provide Avison Young with monument and building signage, large meeting rooms and collaborative areas, a lounge, a private patio, and other common area amenities where Avison Young team members and clients can socialize and collaborate.
The Camelback Lakes project was recently purchased by the DRA/Mainstreet partnership, with plans to upgrade the property in early 2020.
“We are pleased that Avison Young, and its rapidly growing international brokerage platform, has chosen this quality workplace to be the home of its Phoenix office,” said Mainstreet Capital Partners Principal David Warren. “Camelback Lakes has always been an outstanding property, with a premier Camelback location, superior access, visibility and parking. We are looking forward to building on those advantages with significant interior and exterior renovations to this quality asset.”
Supporting its future growth plans over the coming years, Avison Young’s new space has a capacity for up to 80 employees.
“We are continuing to strategically recruit and build on our market share and services within the region,” said Avison Young Principal and Director of Brokerage Services, Mark Seale. “That includes sales and leasing brokers in all property sectors, appraisal and valuation, capital markets and property management specialties.”
Avison Young has continued to strengthen its services throughout Arizona, offering clients strategy and advisement along the entire real estate cycle. In 2019, the firm invested in its retail expertise for the Phoenix market, adding nine retail property professionals through the acquisition of brokerage firm Strategic Retail Group, which included Matt Milinovich, James DeCremer and David Jarand who joined the firm as Principals.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Avison Young is a 2019 winner of the Canada’s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for eight consecutive years.