Cushman and Wakefield president Arthur Mirante has left the firm to lead the US expansion of Canadian upstart Avison Young.
Mark E. Rose, chair and CEO of Avison Young, announced today that Canada’s largest independently-owned commercial real estate services company is opening its first office in New York.
Mirante has been named a principal and Tri-State president, based in Avison Young’s new Manhattan office.
He will join Avison Young principal Greg Kraut to grow the company’s presence in New York. Kraut made his name bringing foreign firms to the Big Apple as a former first vice president at CBRE.
“As we continue our aggressive expansion in key markets throughout the U.S., the establishment of a New York City office is a critical component to further executing on Avison Young’s vision to be the leading global real estate solutions company,” said Rose.
“The New York metropolitan area is among the world’s foremost global business hubs, home to dozens of Fortune 500 companies, and the largest office market in the entire U.S. Our strategic entrance into this market is a cornerstone of our corporate growth strategy and presents us with a tremendous opportunity to introduce Avison Young’s differentiated client-centric service model, which focuses on aligning the interests and needs of our clients with the best-in-class skill sets and intellectual capital of our professionals.”
The newest American office marks Avison Young’s 13th location outside of Canada. Over the past three years, Avison Young has grown from 11 to, now, 30 offices in 27 markets and from 300 to more than 900 real estate professionals across Canada and the U.S. Today’s announcement comes on the heels of Avison Young opening a new office in San Francisco earlier this month.
Mirante is among the most accomplished and respected professionals in the commercial real estate industry.
He forged a distinguished 20-year career as CEO of Cushman & Wakefield, during which the firm’s revenues increased from $100 million to $1 billion. Most recently, Mirante served as president of global development for Cushman & Wakefield, where he focused on working with the firm’s clients to expand existing relationships as well as develop new business opportunities.
Mirante also joins Avison Young’s Executive Operating Committee and will be responsible for business development, growing revenue, and building strategic industry relationships to establish Avison Young’s position in the regional marketplace.
Rose continued: “We are extremely pleased to bring someone of Arthur’s esteemed caliber on board to drive the growth of our Tri-State market presence. Arthur’s unparalleled industry relationships and expertise in the areas of corporate and business development on a global level will position us strongly to advance our growth objectives in recruiting the area’s top talent, identifying and executing on strategic acquisitions and partnerships, and further developing our corporate and institutional client relationships.”
Avison Young is establishing its local corporate infrastructure through assemblage of a hand-selected team of the area’s leading industry professionals. Recruiting efforts are focused on the company’s core business lines, including capital markets/investment sales, asset management, transaction management, leasing, project/construction management, property management, and consulting and advisory services.
Earl Webb, Avison Young’s President, U.S. Operations, notes that the expansion into New York City is part of a strategic campaign to provide specialized real estate advisory and transactional services in key markets.
“As a debt-averse organization with a strong balance sheet, Avison Young is well-positioned to build on the momentum we have achieved with the steady growth of our market-leading international commercial real estate services platform,” he said.
“Specifically, we anticipate strong demand in the highly competitive and dynamic New York marketplace for our brand of principal-led client service, which transforms the traditional model of service-line silos to a client-specific, holistic-based solutions approach to meet the needs and objectives of our clients.”
Added Webb: “We are thrilled to welcome Arthur to our firm and are confident that his exceptional reputation as one of the industry’s foremost business leaders, as well as his extensive relationships and deep knowledge of local market fundamentals and dynamics, will serve as tremendous assets as we expand our footprint in the Tri-State region.”
Mirante said he sees the firm’s client-centric culture as being highly compatible to his own business approach. “I look forward to forging the company’s growth in the greater New York market through high-level recruiting, client development and best-in-class service,” he added.