Schaumburg-based SVN Crossroads Management LLC has been awarded the property management contract of a 101,500-square-foot multi-tenanted retail center known as Barrington Square and a 53,300-square-foot office building known as Blackberry Falls in Hoffman Estates.
“We are making a full-court-press to increase our market share in 2014,” says Kirsten Helma, chief operating officer for SVN Crossroads, who joined the company late last summer.
Barrington Square and Blackberry Falls are owned by Caruso Development, which previously self-managed the properties. Situated in high-traffic areas in Chicago’s northwest suburbs, the buildings offer locations for retail and office tenants. Current tenants at Barrington Square include America’s Bar and Grill, GiGi’s Playhouse, and Poplar Creek Bowl.
“I chose to work with SVN Crossroads because we have similar goals when dealing with tenants and the public,” said Joe Caruso, owner of Caruso Development. “Their platform and style were the closest to our own and how we’ve been managing for 35 years.”
Office leasing activity picks up
In other activity, the development arm of SVN Crossroads Management, Crossroads Development Partners, reports steady leasing in its suburban office holdings.
At 6400 Shafer Court in Rosemont, Land and Lakes Company leased 3,183 square feet for a 66-month term. The landlord was represented by Dan O’Neill and Jack Reardon of NAI Hiffman, while Mike Fortuna of Newmark Grubb Knight Frank represented the tenant. International Housewares Association expanded by 1,704 square feet, with Zachary Fox and Joe Stevens of Transwestern representing the landlord and Greg Raus of Jones Lang LaSalle representing the tenant. Fox and Stevens also represented the landlords in a 24-month lease renewal of 3,526 square feet for FiveCubits Inc.
At 1300 Woodfield Road, Schaumburg, Mark Smith and Bill Saviski of CBRE represented the landlord in a, 4,555-square-foot renewal and expansion for Advanced Resources LLC.
“These long-term leases speak to the quality and desirability of these excellently managed and well-located properties,” said Lee Kotler, principal of Crossroads Development Partners. “We look forward to working with these tenants as they continue to grow their operations.”
