CHICAGO—SVN Crossroads Management LLC made a full-court press to increase its market share over the past year and has gotten results. The suburban Schaumburg-based firm was recently awarded the property management contracts for 14 separate properties with a total of 420,000-square-feet of space. The new contracts have brought the firm's portfolio to more than 3-million-square-feet.
“We had a very busy year in 2014, increasing our portfolio by 30%,” says Kirsten Bowersox, chief operating officer for SVN Crossroads. “The hard work from the team at Crossroads eclipsed our annual goals and this last batch of contracts contains properties in new markets for the firm, including Chicago's hot West Loop area.”
Properties in the new contracts include: 909 W. Washington Blvd. in Chicago, a 9,200-square-foot retail property with national tenants such as Chase, UPS and Dunkin' Donuts; 4200 W. Diversey Ave. in Chicago, a 150,000-square-foot industrial flex building; 1110 Green St. in McHenry, IL, a 52,000-square-foot mixed-use property with ground-floor retail and 27 apartments and 1220 Hobson Rd. in Naperville, IL, a 42,400-square-foot medical office space. The remaining properties contain a mix of office, retail and industrial space.
According to Michael Nortman, founder of SVN Crossroads and Crossroads Development Partners, the company also recently formed several strategic partnerships with several institutional investors, and may soon buy other property management companies and fold them into the Crossroads brand.
“Institutional investors like working with Crossroads because it offers full-service property management with an entrepreneurial vision,” says Nortman. “As we continue to expand in the market, we will be seeking management companies to purchase and bring under the Crossroads banner.”
“This amount of activity led to six new hires at Crossroads in 2014,” Bowersox adds. “With this momentum, 2015 is shaping up to be an even better year.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
