The acquisition further expands Avison Young’s market and business-line coverage in Boston and across the Northeast U.S., where the Walsh Company is a recognized leader in its field. The change in ownership will add 53 employees to Avison Young’s operations. Terms of the acquisition were not disclosed.
Effective immediately, Edward S. Walsh (Founder and Managing Principal of The Walsh Company) and Thomas J. Walsh (Managing Principal of The Walsh Company) join Avison Young as Principals. They each bring more than 25 years of industry experience to their roles and will be responsible for leading the growth and development of Avison Young’s project management services platform throughout the Northeast. The Walsh Company’s senior leadership comprises some of the most accomplished professionals in their respective disciplines. Effective immediately, Kevin Daly joins Avison Young – New England as a Vice President of Construction Management. Previously, he was the head of The Walsh Company’s Boston office. Daly will work alongside Sean Beausoleil, Principal and Director of Project Management in Boston. Other key professionals joining Avison Young include: Mark Sullivan, Senior Project Manager in charge of Interior Construction, and Isabel Acuna, Senior Project Manager – Project Management Services.
“We have established a track record of success by expanding our footprint in key markets through the strategic acquisition of well-entrenched, dominant firms such as The Walsh Company,” comments Mark E. Rose, Chair and CEO of Avison Young.
Founded in 2003, The Walsh Company provides a full range of development, site engineering, project management and construction management services to owners, investors, developers and tenants of office, retail, flex, hospitality and residential real estate. The firm’s expertise includes: site evaluation, technical and operational lease consulting, design review, value engineering and pre-construction services, construction administration, furniture-procurement services and relocation coordination.
“Ed and I see this as an exciting opportunity to join Avison Young, and to play an integral role in building an organization that values a project management services platform as a core facet of the firm’s corporate strategy”, states Thomas Walsh. “As Avison Young continues its aggressive growth, this partnership will provide us with additional avenues to expand our client base, while supporting the company’s mission to deliver fully integrated solutions across all of its business lines.”
Today’s announcement comes on the heels of significant growth and major transactions completed by Avison Young’s Boston office. During its second year, the New England office has grown from five to twenty-seven employees with thirteen brokers as well as asset management, project management property management and valuation services. Also, the 13-year renewal and expansion agreement for PerkinElmer for 198,336 square feet (sf) and PayPal’s lease of 62,814 sf at One International Place have made the Boston commercial real estate community take note.
“Avison Young’s mission is to build the leading global real estate solutions company by aligning the interests of our clients with the skill sets and intellectual capital of our professionals. The Walsh Company’s demonstrated commitment to excellence in client service is the right fit for our company.”, notes Fenton.
The Walsh Company has completed large projects in the Boston market, including the renovation of the historic AMES Hotel in Boston and capital improvements to the John Hancock Tower in Boston. They are currently managing the construction of a new 50,000 sf medical office building for Harvard Vanguard Medical Associates in Concord, the new 85,000 sf corporate headquarters for Welch Foods Corporation, and the new 825,000 sf "Center 128" Mixed use development in Needham.
Beausoleil adds, “The merging of the Walsh and Avison Young project management teams affords our clients a breadth and depth of experience and resources unmatched in the Boston market.”
Adds Kevin Daly: "We are excited about the merger of our team with a firm as innovative and cutting edge as Avison Young in the Real Estate industry. We look forward to continuing our relationship with our key client in the Boston area, Normandy Real Estate Partners, and also working with the Avison Young team in the Boston area to bring our services to support their clients."
Over the past three and a half years, Avison Young has grown from 11 to 37 offices and from 300 to more than 1,000 real estate professionals across Canada and the U.S.
Founded in 1978, Avison Young is Canada's largest independently-