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Seattle Mall Part of Avison Young’s Retail Deal with Madison Marquette
Toronto-based Avison Young will take over management of Pacific Place mall in downtown Seattle. The mall was part of a deal announced earlier this week in which Avison Young acquired all retail operations from Washington, D.C.-based Madison Marquette, covering 6.1 million square feet of retail space nationwide.
Madison Marquette, which acquired the mall in 2014 for $271 million, still owns the property. In addition to acquiring Madison Marquette’s retail property management, retail marketing, retail leasing and specialty leasing services across the U.S., Avison Young is adding its 35-plus retail employees.
“Avison Young is going all-in into the retail sector, and I am eager to take the firm’s vision of expanding its retail platform to the next level with the help of our strong team of retail leasing, management, marketing and market intelligence experts and Avison Young’s innovative data capabilities,” said Gavin Farnam, principal and managing director of U.S. retail services with Madison Marquette.
