May 26, 2020
CHICAGO – CRG, the real estate development and investment arm of Chicago-based Clayco, today announced the hiring of well-regarded industry-veteran Jeff Lanaghan as Senior Vice President, Partner and leader for the Midwest region industrial practice.
Lanaghan joins CRG after 28-years at IDI Logistics, where he was the market leader for the Chicago region. He will lead all aspects of regional activity for CRG, including capital development, leasing and asset management with an immediate focus on the Midwest industrial market, which has continued to see a surge of activity and interest due to the spike in e-commerce-driven space needs, which has only increased as a result of the COVID-19 crisis.
“Jeff is one of the most respected names in our industry, and his experience will be invaluable as we continue to deliver best-in-class industrial assets through our nationally integrated platform,” said Shawn Clark, President of CRG. “The current economic environment has placed special emphasis on the continued strength of our country’s supply chain, and with Jeff, we have the best team in place to create value for our clients and investors through this difficult time.”
The move is another strategic addition to CRG’s nationally integrated platform, which is responsible for development of more than 8,500 acres of land and 197 million square feet of commercial, industrial, institutional and multifamily assets exceeding $12 billion in value.
Lanaghan joins a powerhouse of industry talent moving to the firm’s Chicago headquarters, including the recent additions former City of Chicago Planning and Development Commissioner David Reifman in August, Geoffrey Kasselman, SIOR, Senior Vice President and Partner, Workplace Strategy in December, and Andy Perille as Vice President of Development in March. Clayco, who moved its headquarters to Chicago in 2013, also recently hired Lori Healey, the former CEO at the Metropolitan Pier and Expo Authority, as President of its new regional business unit.
“The team that’s been assembled by CRG is second-to-none,” Lanaghan said. “And what they’ve created nationally with their integrated development platform offered me an opportunity I couldn’t pass up. There’s an energy to this place, and it’s a special opportunity to build on their national success throughout the Midwest. We’re going to make CRG the household name that it should be.”
Lanaghan — a nearly 30-year veteran — has worked with Fortune 500 clients throughout his career, developing and managing the design and construction of projects totaling more than 15 million square feet exceeding $1 billion in market value. His recent projects include a 558,550 square-foot build-to-suit warehouse for Handi-Foil in the Antioch, Illinois and a 750,000 square foot Amazon distribution facility in Channahon, Illinois.
Over the past few years, the online share of retail sales has grown nearly 15 percent year-over-year, and during the COVID-19 crisis, online shopping has attracted additional consumers that previously resisted the shift to e-commerce. That creates a unique opportunity for the Chicago industrial market, according to Lanaghan.
“Chicago is unique in so many ways,” Lanaghan said. “You have to have people who understand that through-and-through, so that’s why it’s important that we have this team. We’re the third largest industrial market in the country and, arguably the largest inland port in the world.
“Everything comes through Chicago as some point in time. You really need a real estate partner with the expertise and reach to manage that. That’s what we have at CRG.”
At IDI Logistics, Lanaghan started as an Assistant Development Manager in 1991, working his way up to market leader after several positions within the company, including oversight of the Salt Lake region. He holds a Bachelor of Science in Architectural Engineering and Urban Land Planning from the University of Kansas in Lawrence. He’s an active member of the National Association of Industrial and Office Properties (NAIOP) and an associate member of the Association of Industrial Real Estate Brokers (AIRE) and Society of Industrial and Office Realtors (SIOR).
CRG is focused on the development of high-quality real estate assets throughout North America and primarily invests in large scale commercial real estate including industrial warehouses, data centers, corporate headquarters, mixed use and multifamily assets.
The firm recently developed a 295,000 square foot state-of-the-art research and design facility for Pfizer in Chesterfield, Missouri, a 1.8 million square foot industrial project for Shaw Industries Group, Inc. at the Port of Savannah in Georgia, and a 750,000 square foot distribution facility for Kimberly-Clark in Seattle, amongst other national projects.
CRG is a privately held real estate development firm that has developed more than 8,500 acres of land and delivered over 197 million square feet of commercial, industrial, institutional and multifamily assets exceeding $12 billion in value. CRG, headquartered in St. Louis, leverages a powerful North American platform with local market expertise and offices in Atlanta, Chicago, Columbus, Southern California and Philadelphia. CRG’s philosophy of developing for the future and anticipating the enhanced needs of next generation users led to the creation of its industrial brand, The Cubes, and its multifamily brand, Chapter. For more information, visit CRG’s website at www.realcrg.com.
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely delivers clients across North America the highest quality solutions on time, on budget, and above and beyond expectations. With $3.25 billion in revenue for 2019, Clayco specializes in the “art and science of building,” providing fast track, efficient solutions for industrial, commercial, institutional and residential related building projects. For more information visit www.claycorp.com.