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Chicago & Midwest  + Greater Chicagoland  + Retail  | 
Marcus & Millichap arranged the sale of a Franklin Park, IL shopping center to a Texas real estate syndicator

Texas-Based Syndicator Scoops Up Franklin Park Shopping Center

Marcus & Millichap closed the sale of a Just Tires-anchored retail center, a 42,111-square-foot retail property shadow anchored by a Jewel grocery store, located at 10237 Grand Ave. in Franklin Park, IL. The asset sold for $4,684,500. 

First VPs Mitchell Kiven and James Ziegler and associate Keith Zelenika, investment specialists in Marcus & Millichap’s Chicago Downtown office, marketed the property on behalf of the seller, an investment fund with several partners based primarily in Chicago. Kiven also sourced the buyer, Jupiter Texas Group, a real estate syndicator based in Frisco, TX, which has been actively buying retail centers across the U.S. over the past several years.  

Financing was obtained on behalf of the buyer by Dean Giannakopoulos, senior managing director, Marcus & Millichap Capital Corporation; and Frank Montalto, managing director, IPA Capital Markets. 


Inside The Story

Marcus & Millichap's Kiven

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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