ROSEMONT, IL-McShane Cos. has launched Conor Commercial Real Estate, an entity geared toward offering commercial real estate services to institutional clients. Mark A. Saturno, McShane’s COO, is heading up operations and strategic management of Conor Commercial.
The McShane Family of Cos., as it’s known, consists of development and specialty entities, all of which are separate companies with similar ownership. Conor Commercial is McShane Cos.’ next step in positioning itself to take advantage of future opportunities, especially as the economy moves toward recovery. The services offered include development, acquisition, financing, asset management and disposition, with emphasis in the industrial, office, healthcare, multifamily and institutional sectors of commercial real estate.
“As we break out of the recession, we’re being called on to provide a lot more services,” explains McShane Cos. CEO James A. McShane. “We really needed to come up with a new entity that had a much broader array of real estate services than development.”
McShane tells GlobeSt.com that many of the company’s institutional clients have expressed interest in more than the development services for which McShane is well known. As such, Conor Commercial takes the word “development” out of its branding. “We’re keeping McShane Development in place,” McShane explains, “but we’re using Conor to grow the other services.”
When speaking of “growth,” McShane is referring both to striking out in new geographic locations and expanding in locations where McShane already exists. The McShane Family of Companies, which includes McShane Construction, Cadence McShane Construction, McShane Development and McShane Healthcare, has a presence in Irvine, CA, Phoenix and throughout Texas in Austin, Dallas and Houston. McShane says that Connor Commercial is already hiring in those areas. Some individuals are also being tapped to help with the new entity – for example, John Dobrott, president of McShane Cos.’ industrial division is handling Conor Commercial’s industrial portfolio.
In addition to expanding in locations where McShane Cos. already has a foothold, there are plans to possibly enter new markets as well. “Each year we’ll continue to look at the best way to grow the company and move on from there,” McShane notes.