A Canadian property management firm has expanded its presence in the Las Vegas Valley by acquiring one of the largest commercial property management firms in the region.
Toronto-based Avison Young announced today that it acquired Las Vegas-based Landry & Associates. The terms of the deal were not disclosed.
Avison Young describes itself as Canada’s largest independently owned commercial real estate services firm. It said the Landry acquisition would add 2.6 million square feet to its 50 million-square-foot portfolio of retail, industrial and office properties under management in the United States and Canada.
Landry was the sixth-largest property management firm in the valley as of last June, based on the square footage it oversaw. Founded in 1999, the firm managed more than 30 properties and was owned by Margaret “Marge” Landry and Raymond A. Landry II.
Avison opened its first office in Las Vegas last November after hiring Grubb & Ellis managing director Joseph E. Kupiec Sr. to lead the new outpost. The firm said Tuesday it was managing 500,000 square feet of space in Las Vegas prior to the Landry acquisition.
Avison was founded in 1978. It has more than 30 locations in Canada and the United States, including Reno, where it opened an office this past March.