Schaumburg-based SVN Crossroads Management, LLC has been awarded the property management contracts for 14 separate properties comprising 420,000 square feet of space in the fourth quarter, bringing the firm’s portfolio to more than 3 million square feet.
“We had a very busy year in 2014, increasing our portfolio by 30 percent,” said 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. This amount of activity led to six new hires at Crossroads in 2014. With this momentum, 2015 is shaping up to be an even better year.”
Properties in the fourth quarter 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, Ill., a 52,000-square-foot mixed-use property with ground floor retail and 27 apartments and 1220 Hobson Road in Naperville, Ill., 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, Crossroads also formed several strategic partnerships in 2014, aligning with multiple institutional investors, and is actively pursuing other property management companies to roll into the Crossroads brand.
“Institutional investors like working with Crossroads because it offers full-service property management with an entrepreneurial vision,” said Nortman. “As we continue to expand in the market, we will be seeking management companies to purchase and bring under the Crossroads banner.”