Avison Young acquires property management and leasing portfolio from Atlanta-based Barry Real Estate Companies, Inc.

ATLANTA, GA  /PRNewswire/ - Steve Dils (top right photo), Avison Young Principal and Managing Director of the company's Atlanta office, announced today the expansion of Avison Young's leasing and management platform through an agreement with Atlanta-based Barry Real Estate Companies, Inc. to acquire the majority of its third-party business unit.

The acquisition of the office property management and leasing portfolio

from the local developer will add to Avison Young's approximately 50

million square feet (msf) of retail, industrial and office properties

under management in Canada and the U.S.

 Effective immediately, Avison Young will assume the property management of four buildings in Atlanta totaling nearly 600,000 square feet. The properties are

30 Allen Plaza (top left photo), Lenox Plaza (middle right photo), Lenox Center (middle left photo), and 2045 Peachtree (lower right photo).

Avison Young will also handle the leasing in 30 Allen Plaza and 2045 Peachtree

(totaling 353,000 sf).

Major tenants in 30 Allen Plaza include the Southern Company (headquarters), and the law firm of Balch & Bingham LLP.

"Avison Young has been very successful in strategically growing its platform in the Southeast during the past year. This acquisition expands the office side of our agency platform and is a deliberate step in executing on our growth plan," comments Dils.

 "The expansion is a logical move for us, and we are excited about our new relationship with the owners of these properties and the opportunity to continue our growth."

In conjunction with the acquisition, Avison Young will begin relocation of its Southeastern offices to 30 Allen Plaza immediately.

"Barry Real Estate Companies is one of the leading developers in Atlanta and the Southeastern U.S.," notes Mark Rose, Chair and CEO of Avison Young.

"This acquisition deepens Avison Young's presence in Atlanta and is in line with the company's strategy to further strengthen our property management platform and capabilities in North America."

Avison Young, which also acquired Atlanta-based Hodges Management and Leasing Company (HMLC) in July 2010, now has in excess of 20 msf under management in Atlanta.

 "Barry Real Estate Companies has created exceptional buildings, and Atlanta is one of the most diverse real estate markets in the country

and the hub of commercial activity in the Southeast U.S.," says Earl Webb, Avison Young's President, U.S. Operations.

 He adds that the company's plans include further acquisitions and partnerships to grow the Avison Young brand internationally.

 For further information/comment/photos:

Sherry Quan, National Director of Communications & Media Relations, Avison Young: (604) 647-5098; cell: (604) 726-0959

Steve Dils, Principal and Managing Director, Atlanta, Avison Young: (404) 865-3666

Mark Rose, Chair and CEO, Avison Young: (416) 673-4028

Earl Webb, President, U.S. Operations, Avison Young: (847) 881-2237

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