Jupiter Realty Buys Two Montgomery Wards Stores

CHICAGO-Jupiter Realty Corporation, based here, has acquired two department store properties from struggling national department store retailer Montgomery Wards, also based here.

Wards, which has had serious financial problems in the last several years, has sold its downtown Colorado Springs store and its downtown Pasadena, TX store to Jupiter Realty, according Jupiter’s CFO Michael Pompizzi. The Colorado store was recently renovated, while the Texas store will undergo a major rehab in the next year.

Jupiter Realty Corporation is the holding company for a real estate concern with brokerage, development and investment interests in 43 states, Costa Rica and Asia.