The properties are a two-story, 162,000-sf building in thedowntown at 2420 Pikes Peak Ave. in Colorado Springs and a Wardsstore at 2222 Spencer Highway in Pasadena, TX. The Colorado store,built in 1964, had been renovated in 1999. The Texas store, erectedin 1967, underwent a renovation in 1989, but Jupiter is planning todo additional work in the next 12 months.Founded in 1872 as acatalog company, Wards is one of the largest privately heldretailers in the US with 250 stores in 31 states. The company lastyear rolled out 40 new prototype stores in 13 states. Wardsoperates retail stores, distribution centers and product-servicecenters across the country and earns annual sales in excess of $3billion.

Jupiter Realty, founded in 1985, develops and invests incommercial real estate properties and businesses with a nationaland international scope. It has offices in Chicago, Atlanta, LosAngeles, Denver, San Francisco and Charleston, SC, with businessoperations spanning 43 states, Costa Rica and Asia.

Jupiter has interests in several real estate-related businessesincluding Chicago-based Jupiter Brokerage Services LLC, a nationalfull-service brokerage firm specializing in tenant representation;Houston-based PM Realty Group, a national, portfolio-management andreal estate services firm; Hostmark Hospitality Group, a nationalfull-service, hotel management and development firm, headquarteredin Schaumburg, IL; Jupiter Asset Corporation, a Houston-based,national, asset-management firm, specializing in under-performingportfolio work-outs; and Jupiter Communities, Inc., a nationalresidential management company, based in San Francisco.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.