The sale of Cushman & Wakefield to DTZ has created a major change in the Nashville and Knoxville commercial real estate markets, as 82 members from Cushman & Wakefield|Cornerstone in those two Tennessee cities have now joined new Avison Young offices.
Avison Young, following the Cushman & Wakefield and DTZ deal, has opened new offices in Knoxville and Nashville. Warren Smith from Cushman & Wakefield|Cornerstone will serve as managing director of Avison Young’s Tennessee offices.
“We are thrilled to be entering the Tennessee marketplace,” said Mark Rose, chairman and chief executive officer of Avison Young, in a statement. “This team’s comprehensive knowledge of the Tennessee marketplace will enable us to hit the ground running and expand our footprint throughout the state and across the Southeastern United States.”
Cushman & Wakefield|Cornerstone had grown to oversee more than 11 million square feet of leased and managed property, coordinating more than $315 million of investment sales in just the last 18 months. In 2010, the firm expanded to Knoxville.
The two new Tennessee offices mean that Avison Young now operate 47 offices in the United States. These are the firm’s first two locations in Tennessee. All Cushman & Wakefield|Cornerstone principals are now part of Avison Young.
“We are thrilled to have the entire 82-member team on board,” said Earl Webb, president of U.S. operations for Avison Young, in a statement. “Our clients will benefit from a solid base of commercial property and project management services led by exceptional professionals.”
Avison Young’s new Nashville office is at 5106 Maryland Way in Brentwood, Tennessee. Its Knoxville office is at 6005 Lonas Drive in Knoxville.
“Avison Young offers the best fit culturally and the greatest potential for growth in our markets,” Smith said in a statement.
