Purchase expands Avison Young's Southern California presence; industry
veteran Randy Starr becomes Principal
TORONTO, Sept. 12, 2012 /CNW/ - Mark E. Rose, Chair and CEO of Avison Young, Canada's largest independently-owned commercial real estate services
company, announced today that it has acquired Starrpoint Commercial Partners, Inc. A full-service commercial real estate brokerage firm, Starrpoint
specializes in the Santa Monica submarket of Los Angeles, with emphasis
in the representation of high-tech and media firms that have migrated
to Silicon Beach, a moniker for the Santa Monica market.
The purchase further expands Avison Young's market and business-line
coverage in the Los Angeles area. The change in ownership brings
industry veteran Randy Starr (founder and CEO of Starrpoint) and Tim Dornan (Principal of Starrpoint) to Avison Young's Los Angeles-area
Effective immediately, Starr becomes a Principal of Avison Young and will lead the company's efforts
to expand its presence and generate transaction volume in the Silicon
Beach area of West Los Angeles. Dornan joins as a Vice-President in the
region in support of those efforts and will be heavily involved in
additional business development.
The newest American office marks Avison Young's third Los Angeles
location and an additional step in the firm's aggressive growth and
expansion strategy. Terms of the acquisition were not disclosed.
Over the past three years, Avison Young has grown from 11 to, now, 33
offices in 29 markets and from 300 to more than 950 real estate
professionals across Canada and the U.S.
"The Southern California region is a critical growth area for Avison
Young. The acquisition of Starrpoint allows Avison Young to partner
with one of the most dominant real estate players in the Santa Monica
market, as well as immediately create a stronghold and identity
associated with some of the most influential and creative transactions
that have taken place in the Santa Monica marketplace," comments Rose.
"Randy Starr is the consummate real estate professional and while he
has been immersed in multiple disciplines in his long career, his true
passion has been to focus on the space needs of high-tech,
entertainment and media firms. We are thrilled to have Randy and Tim
join our Principal-led organization and the growing team of
professionals who have decided over the past 12 months to make Avison
Young their home."
"We are pleased to have Randy Starr joining us as a Principal. He is a
highly experienced professional with deep knowledge of the West Los
Angeles markets, especially in the rapidly developing Silicon Beach
market," states Earl Webb, Avison Young's President, U.S. Operations. "Randy's background and
leadership will be invaluable to our organization as we continue to
build our business in L.A. and beyond."
Webb continues: "Furthermore, Starrpoint's representation of building
owners will provide Avison Young with an immediate presence on the
famed Third Street Promenade, which spans four blocks in the western
section of the Santa Monica central business district and is home to
such notable retailers as Apple, Anthropologie, Banana Republic, Barnes
& Noble, Nike, H&M, and Forever 21. We could not be happier to have
Randy and Tim join our team."
Avison Young opened its first Los Angeles office in August 2011 with
industry veteran Neil Resnick joining as a Principal, followed by a second Los Angeles office in
December 2011 through the acquisition of Ramsey-Shilling Commercial Real Estate Services, Inc. (Chris Bonbright and team). In March 2012, industry leader Christopher Cooper joined as a Principal and Managing Director of the Southern California
"Randy's long history of market dominance and leadership, and the respect
he has earned in the Los Angeles real estate community, will be of
tremendous value to our firm and to our clients," states Cooper.
"Avison Young's presence in Los Angeles has grown from three
professionals a year ago to 33 today. We look forward to working with
the Starrpoint team."
Effective immediately, Starrpoint Commercial Partners' current office at
301 Arizona Avenue, Suite 303 in Santa Monica will be re-branded as
"Randy has been consistently viewed as an innovator, a trendsetter and
someone who has an uncanny ability to read the market," adds Resnick.
"Our association goes back to the mid 1980s and it has been a joy to
watch Randy take the Santa Monica market by storm. He and Tim joining
Avison Young is further testimony to our firm's commitment to grow and
gain momentum not only in Southern California, but throughout North
Over the past four months, Avison Young has also opened offices in San
Francisco, New York, Charleston, SC, and Pittsburgh.
"I am pleased to be part of the growing team that Avison Young is
building in the Southern California region. Avison Young's
Principal-led culture, whereby solutions are created and executed by
the very people who have reputational and financial accountability to
clients, is something I look forward to being a part of," says Starr.
"Tim and I were impressed with how Avison Young has been strategically
building its brand across North America and expanding in all facets of
the commercial markets. More importantly, we know our clients stand to
benefit the most as we integrate into Avison Young's best-in-class
North American brokerage platform."
Randy Starr brings to Avison Young 24 years of experience in the real
estate industry. He has been the pre-eminent broker in Downtown Santa
Monica for the past two decades, focusing on all facets of commercial
real estate. Adaptive re-use projects transforming Downtown Santa
Monica have been his trademark, in addition to adding value in
revitalizing the Third Street Promenade and the surrounding area.
Most recently Principal and CEO of Starrpoint Commercial Partners, which
he founded in 2010, Starr came to the realization two decades ago that
the small geographic pocket centered around the central business
district of Santa Monica would evolve into a high-demand location for
office users seeking lifestyle choices over highrises and
status. During the course of his career, he has been able to play an
influential role in shaping the Santa Monica market and raising its
profile and desirability among high-tech and creative firms.
During his career, Starr has completed more than 1,000 retail and office
lease transactions valued in excess of $2 billion. In addition, he has
negotiated strategic investment sales in Downtown Santa Monica that
have changed the area's landscape and ranked the Third Street Promenade
among the highest-valued commercial real estate in North America. Starr
attended Boston University's College of Communication and is a member
of the Los Angeles Commercial Real Estate Association (LACRA) and the
Santa Monica Economic Development Council.
Founded in 1978, Avison Young is Canada's largest independently-owned
commercial real estate services company. Headquartered in Toronto,
Ontario, Avison Young is also the largest Canadian-owned,
principal-managed commercial real estate brokerage firm in North
America. Comprising more than 950 real estate professionals in 33
offices across Canada and the U.S., the full-service commercial real
estate company provides value-added, client-centric investment sales,
leasing, advisory, management, financing and mortgage placement
services to owners and occupiers of office, retail, industrial and
Avison Young is a winner of Canada's 50 Best Managed Companies program for 2011, sponsored by Deloitte, CIBC, National Post and
Queen's School of Business
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SOURCE: Avison Young (Canada) Inc.
For further information:
For further information/comment/photos:
• Sherry Quan, National Director of Communications & Media Relations, Avison Young: (604) 647-5098; cell: (604) 726-0959
• Mark Rose, Chair and CEO, Avison Young: (416) 673-4028
• Earl Webb, President, U.S. Operations, Avison Young: (312) 957-7610
• Christopher Cooper, Principal & Managing Director, Southern California Region: (424) 265-9194
• Neil Resnick, Principal and Managing Director, Los Angeles West office: (424) 265-9191
• Randy Starr, Principal, Avison Young: (310) 899-1811
Avison Young's new Santa Monica, CA office: 301 Arizona Avenue, Suite 303, Santa Monica, CA 90401