CHICAGO—SVN Crossroads Management, LLC has been awarded property management contracts for five separate properties with a total of 157,000-square-feet of space. Located in the north, northwest and south suburbs of Chicago, the properties consist of industrial, office and industrial flex.
“As I said earlier this year, we are making a full-court press to increase our market share,” says Kirsten Bowersox, chief operating officer of the suburban Schaumburg-based SVN Crossroads. “Our targeted marketing efforts combined with a reputation for providing responsive, ownership-style management services has been noticed by building owners across Chicago.”
The 157,000-square-feet of new property management contracts includes 103,000-square-feet of industrial space in three separate properties at 525-533 S. Ashland Ave. in Chicago Heights; 740 Industrial Dr. in Cary and 726 McHenry Ave. in Woodstock. It also includes a 6,900-square-foot office space at 630 N. Route 31 in Crystal Lake. The fifth new property management contract is for a 47,000-square-foot industrial flex building at 1940-1950 Lehigh Ave. in Glenview.
Furthermore, the development arm of SVN Crossroads, Crossroads Development Partners, LLC, just completed more than 16,000-square-feet of lease renewals and expansions at Woodfield Corners, 1300 E. Woodfield Rd. in Schaumburg, from tenants Royal United Mortgage, Paul Grauer and Associates and US Tech Source, Inc. These lease expansions and renewals bring occupancy at the seven-story, 133,000-square-foot building to 93%.
“Given our convenient location, hands-on management, and strong tenant roster, 1300 Woodfield has established an extremely high rate of renewals from existing tenants,” says Michael Nortman, principal of Crossroads Development Partners and SVN Crossroads Management. “We look forward to serving our clients' space needs for years to come.”
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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.
