Former COO of Duke Realty joins CRG to bolster leadership as firm expands North American development and investment management platform
CRG, the Chicago-based real estate development and investment management firm, today announced that Steve Schnur has joined the firm as chief operating officer. In this new role, Schnur will expand CRG’s executive leadership team to help guide the firm’s strategic growth and continued expansion of its real estate development and investment activities across North America. Schnur will also play an important role in enhancing the firm’s internal processes pertaining to acquisitions, development, leasing, asset management and property management.
Schnur previously served as the executive vice president and chief operating officer at Duke Realty. During his nearly 20-year career with Duke Realty, Schnur was heavily involved in the development, leasing and property management operations of the firm’s 160 million-square-foot logistics portfolio across 19 major markets. Schnur was also responsible for identifying and pursuing new development opportunities, paving the way for over $5 billion in industrial development.
“CRG has scaled significantly over recent years, opening eight regional offices throughout the United States and completing over $2 billion of transactions for each of the past two years. As we continue to expand our development, acquisition and investment management capabilities, it is an important time to strengthen our internal infrastructure,” said Shawn Clark, president of CRG. “The new role of chief operating officer is a perfect fit for Steve and I’m confident that his direct experience, strong leadership skills and relationships will create tremendous value for CRG, our clients and investors.”
Schnur’s experience at Duke will further support CRG’s previously announced plans to expand its real estate strategy by not only developing, but also acquiring infill industrial assets in core logistics markets with proven long-term demand fundamentals and high barriers to entry. The acquisitions strategy will continue to leverage CRG’s national platform to identify investment opportunities throughout the U.S. that provide strong, risk-adjusted returns.
“CRG has experienced remarkable growth over a relatively short period,” said Chris McKee, chief development officer at CRG. “I am excited to work closely with Steve as we continue to expand our platform and realize our strategic goals. Not many people can hit the ground running the way Steve can, and he is a perfect cultural fit for the company we have built.”
CRG was founded in 1993 as the real estate services division of Clayco, Inc. The firm touts vertical integration as a key differentiator, benefiting from the design-build services of Clayco and the in-house architectural services of LJC. CRG has established a national industrial development platform that has served many nationally recognized brands and Fortune 500 companies. In 2018, CRG launched its first fund vehicle, U.S. Logistics Fund I, and subsequently, in 2021, U.S. Logistics Fund II, to invest in the development of logistics assets in core markets throughout the United States. Additionally, CRG has dedicated and experienced teams leading student housing, multifamily, office and mixed-use developments.
“CRG has built a phenomenal brand and reputation as one of the premier real estate development and investment firms in the U.S.,” said Schnur. “The firm has a profoundly entrepreneurial culture, high ambitions and a long-term vision that resonated with me. I am thrilled to join CRG at this pivotal time in the company’s history and am confident we will continue to generate new ideas and strategies that will benefit our clients and investors for years to come.”
In addition to being recognized as an industry leader, Schnur is well-known for going beyond the status quo. Schnur serves on the board of the American Red Cross Indiana Chapter, participates in the Northwestern Athletes’ Mentoring Program and is a member of SIOR and NAIOP. Additionally, he was named to the Crain’s Chicago Business “40 Under 40” list in 2008 and the Midwest Real Estate News Commercial Real Estate “Hall of Fame” in 2016.
About CRG:
CRG is a privately owned North American real estate development and investment firm founded in 1993 with deep expertise in delivering and owning industrial, office, multifamily, student housing and mixed-use assets. The firm serves clients and investors from eight regional offices benefiting from local expertise in Chicago, St. Louis, Seattle, SoCal, Phoenix, Philadelphia and Atlanta. CRG has developed more than 10,000 acres of land and delivered over 210 million square feet of assets exceeding $13 billion in value. For more information, visit CRG’s website at www.realcrg.com.
About The Cubes:
The Cubes is a North American industrial brand owned and developed by CRG. The Cubes represents CRG’s philosophy of developing for the future and anticipating the enhanced needs of tomorrow’s modern industrial users. The Cubes are designed with an emphasis on sustainability and implement state-of-the-art specifications, including maximum clear heights, dock doors and trailer storage to keep pace with the shift to consumer-centric logistic strategies. The Cubes are located in strategic locations that take into consideration both logistics and labor supply, always with the end user in mind.
About Chapter:
Chapter is a North American multifamily and student housing brand owned and developed by CRG. Chapter communities are designed to provide living spaces residents call home where they can write the next chapter in their life story with greater intention. Chapter student housing projects are located near college campuses of Tier 1 universities in Power 5 conferences. Chapter multifamily projects are located in established urban markets with growing populations with strong job markets and education sectors.
