CRG is shaking up its top ranks as it grows its industrial and investment management platforms.
The development arm of Chicago construction firm Clayco has tapped its president, Shawn Clark, as CEO. The company’s former chief development officer, Chris McKee, has taken over as president.
The changes come during a period of growth for CRG, with the firm opening eight regional offices and completing more than $2 billion in transactions annually, according to the company. The news also comes on the heels of Steve Schnur’s appointment as COO last month. CRG also hired Duke Realty’s three-member acquisitions team after the industrial firm was bought out by Prologis.
“We are excited about the changes to our executive leadership team and confident these changes will allow us to better serve our clients and investors,” Clark said in a statement.
Clark will stay heavily involved with CRG’s growing investment management platform, according to the company. The firm launched its first fund vehicle in 2018 and its second in 2021, with both investing in the development of logistics assets in markets throughout the U.S.
Meanwhile, McKee will continue his oversight of development deal flow, according to CRG.
Founded in 1993, CRG has developed more than 12,500 acres of land and delivered more than 220 million square feet of assets valued at more than $14 billion.
In a tough commercial real estate market, CRG has had success with industrial development and leasing in recent months. The firm’s 1-million-square-foot industrial facility in Country Club Hills, the first under its national industrial brand The Cubes, has been fully leased to Solo Cup.
Separately, the firm is planning a 40-story, mixed-use tower set to include 275 residential units, 150 hotel rooms as well as office and retail space along with Fulton Market developer Jeff Shapack at 170 North Green Street.
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