Avison Young announces first Long Island, New York office; milestone opening marks firm's 50th office location to continue aggressive expansion
Fast-growing commercial real estate services firm opens 35th U.S. office, third in Tri-State market; Ted Stratigos joins as Principal and Managing Director
TORONTO, Aug. 15, 2013 /PRNewswire/ - Mark E. Rose, Chair and CEO of Avison Young, the world's fastest-growing commercial real estate services firm, announced today the opening of the company's first office on Long Island, New York, to further expand the firm's business-line coverage throughout the New York Metropolitan Area. A key milestone for the company's aggressive growth strategy, the Long Island office also marks Avison Young's 50th office location.
As the newest American office for Avison Young, the Long Island office is also the firm's 35th location outside of Canada, and the company's third Tri-State office. Over the past four years, Avison Young has grown from 11 to, now, 50 offices in 40 markets and from 300 to more than 1,300 real estate professionals across Canada and the U.S.
Effective immediately, Ted Stratigos joins Avison Young as a Principal and Managing Director of the firm's Long Island office. A 33-year commercial real estate industry veteran, Stratigos has been charged with overseeing the growth and development of Avison Young's presence in the Long Island market, as well as servicing new and existing clients and managing the office's day-to-day operations. He was most recently an Executive Director at Cushman & Wakefield on Long Island, where he spent the past 33 years handling all aspects of commercial real estate requirements for his clients.
"Expanding into the Long Island market, after successfully launching offices in New York City and New Jersey last year, is the next natural progression for Avison Young as we look to further strengthen our presence in the critical New York Metropolitan Area," comments Rose. "As our 50th location, this new office is also strong validation of our U.S. expansion strategy and reflects the demand that exists in the marketplace for the unique, principal-led, client-centric service approach we deliver."
Adds Rose: "We are extremely pleased to have someone of Ted's caliber lead our new Long Island market operations. His more than three decades of local market experience and relationships will serve us well as we continue to build on our growing reputation in the Tri-State region."
Effective immediately, Avison Young's new Long Island office is located at 68 South Service Road in Melville, on the border of Nassau and Suffolk counties.
Earl Webb, Avison Young's President, U.S. Operations, notes that the move dovetails with Avison Young's strategic business goals. "With economic conditions improving, the timing is right for us to continue our aggressive push into key markets," he says. "As has been our approach to date, we will look to build our Long Island presence through recruitment of top-tier talent, aligning our growth with the needs of our clients in this market."
Avison Young opened its first New York office in April 2012 in New York City, with Arthur J. Mirante, II joining as Principal and Tri-State President and Greg Kraut as Principal and Managing Director of the New York City office. The company opened its New Jersey office in September 2012.
"While Long Island is in proximity to New York City, Long Island has an economic engine all its own in diverse business sectors, and we felt it was necessary to bring on someone who has definitive local market expertise to lead our efforts here," states Mirante. "Ted is a great addition to our team, and we look forward to the contributions he will make to the regional expansion of our platform."
Adds Kraut: "Ted is a highly regarded professional and his business approach complements Avison Young's client-centric service model. His leadership of our 50th office location will be instrumental as we continue to further strengthen our platform. The synergy between the New York and Long Island offices will ensure our clients throughout the region are provided with true, comprehensive local market expertise."
Stratigos has acted as an advisor and agent to a wide variety of corporations and investors, having consummated more than 75 transactions during the past five years with a net aggregate value in excess of $130 million. During his real estate career at Cushman & Wakefield, Stratigos' primary responsibilities included the representation of clients in the acquisition and disposition of corporate facilities, agency representation, lease negotiations and financial analysis on a local, regional, national and international basis. He has represented numerous top-tier firms including AT&T, Leviton Corp., Cablevision, Computer Associates, Ernst & Young, Allstate, Merrill Lynch, Verizon, MTA and Northrop Grumman.
Stratigos has been honored with numerous awards, including being a two-time recipient of the Commercial Industrial Brokers Society of Long Island and the Long Island Association's prestigious Deal of the Year and Broker of the Year awards, as well as being named a CoStar Power Broker in multiple years. In 2010, he received Long Island Business News' Real Estate Development Award for the Forchelli Curto Deegan relocation. Stratigos is an active member and supporter of the Commercial Industrial Brokers Society of Long Island, March of Dimes and Long Island Cares.
Stratigos notes that he appreciates the opportunity to be part of a pioneering concept in brokerage built on Avison Young's partnership model.
"I have been impressed by the way Avison Young is setting up its organization and making a name for itself in highly competitive markets across the U.S.," states Stratigos. "This is an exciting opportunity to play a key role in Avison Young's expansion into this market and I look forward to recruiting talented real estate professionals to work together as a team, with the goal of providing the best real estate services possible to the Long Island business community."
He adds: "Despite its tremendous growth, Avison Young still operates as a closely knit firm and I am delighted to lead this new office."
Over the past year, Long Island's Nassau and Suffolk counties experienced the highest private sector employment growth in the state at 2.7%, according to the New York State Department of Labor. Leading industries include construction, manufacturing, trade, transportation and utilities, financial activities, professional and business services, healthcare, and leisure and hospitality. Long Island is home to the prominent Brookhaven National Laboratories and Hauppauge Industrial Park - the East Coast's largest industrial park, which comprises 1,300-plus companies that employ more than 55,000 Long Islanders.
Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,300 real estate professionals in 50 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.
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Avison Young's new Long Island office is located at 68 South Service Road, Melville, New York, 11747
Avison Young was a winner of Canada's Best Managed Companies program in 2011 and requalified in 2012 to maintain its status as a Best Managed company.
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SOURCE Avison Young Commercial Real Estate (BC)