What Franklin Partners does

Franklin Partners LLC is a privately held, Midwestern-focused commercial real estate investment and development firm founded in 1997 and headquartered in Oak Brook, Illinois. The firm acquires, repositions, and manages underutilized commercial assets — spanning Class A office, industrial and manufacturing facilities, data center–ready industrial land, and (more recently) residential development — across Illinois, Michigan, Missouri, and Ohio, with a portfolio of more than 20 properties aggregating several million square feet of building area and over 1,000 acres of development land. Notable holdings include trophy assets such as The Plaza in Clayton (Class A+ office), Oak Brook 22, One Magnificent Mile (Chicago), The Shuman (Naperville), and 20 West Kinzie (Chicago), alongside large industrial sites in West Michigan and Northwest Ohio.

The firm's business model combines opportunistic acquisition — frequently via note purchase or off-market deal (e.g., 55 Shuman acquired via note purchase at 50% occupancy in 2011; The Plaza acquired from KBS REIT in 2017; former OfficeMax HQ acquired in 2018 in joint venture with Bixby Bridge Capital) — with repositioning through capital improvements, amenity upgrades, and rebranding. Franklin Partners monetizes its holdings through recurring rental income on multi-tenant and single-tenant leases, on-site property management services (including for One Magnificent Mile), build-to-suit and land sales to industrial users and data center developers, and selective dispositions of stabilized assets.

Distribution is executed through an internal leasing team supplemented by third-party brokerage relationships — most notably CBRE as exclusive leasing agent for major assets — and through dedicated regional offices in Oak Brook, Chicago, and Grand Rapids. The firm is led by Managing Partner Don Shoemaker and Partner Will Shoemaker, with operational leadership drawn from institutional CRE backgrounds including CBRE and JLL. Pricing is quote-based and negotiated per property; financial details including revenue, headcount, and ownership structure are not publicly disclosed.

Name

Franklin Partners

Legal name

Franklin Partners LLC

Website

https://franklinpartners.net

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

1–10 employees

Short description

Franklin Partners is a privately held, Midwestern commercial real estate investment and development firm founded in 1997 that acquires, revitalizes, and manages office, industrial, residential, and land development properties across Illinois, Michigan, Missouri, and Ohio.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment & Development

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Nonresidential Property Managers (531312), Lessors of Real Estate (5311)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Funds — Value-Add (FSANAEAH)

akta.pro secondary industries

Real Estate Funds — Opportunistic / Development (FSANAEAI), Land Brokerage (Raw Land & Development Sites) (FSAEAJAD)

Keywords

• Commercial real estate investment
• Property development
• Office leasing services
• Industrial real estate
• Asset revitalization

Headquarters

HQ city

Oak Brook

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Commercial Real Estate Leasing: Revenue generated from leasing office, industrial, and retail space across the company's property portfolio. The company owns and manages commercial properties in multiple Midwest markets and generates rental income from tenant leases.
2. Property Management Services: On-site property management services for owned assets and third-party clients including One Magnificent Mile and The Plaza in Clayton.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Franklin Partners acquires underutilized commercial real estate assets across the Midwest, renovates and repositions them into Class A office, industrial, mixed-use, and data center properties, and operates them with on-site property management services. The portfolio spans office buildings, industrial/manufacturing facilities, and development land across Illinois, Michigan, Missouri, and Ohio. The firm also provides on-site property management for select owned and third-party assets such as One Magnificent Mile in Chicago.

Product overview

Franklin Partners is a commercial real estate investment and development firm operating in the Midwest (Illinois, Michigan, Missouri, Ohio). The company does not offer a unified technology product but rather a portfolio of real estate properties and services. Their core offering encompasses commercial properties across multiple asset classes: office buildings (Class A office space in buildings like 20 West Kinzie, Oak Brook 22, The Shuman, 190 Carondelet Plaza, 12800 Corporate Hill Drive, 12851 Manchester Road, 99 Monroe, 953 American), industrial facilities (13467 Quincy, 2509 S Hayes Ave, Southwest Michigan Commerce Park, Covenant Business Park, Site 36 Industrial Park, Grayslake Business Park), data centers (6940 Southbelt Dr), and land for development (Meadowbrook & Yore Industrial Site, 3300 East Beltline, River North residential). The firm also provides on-site property management services for select properties including One Magnificent Mile. Franklin Partners' business model focuses on acquiring underutilized commercial properties, renovating and repositioning them, and managing leasing activities for tenants.

Differentiator

Problem solved

Functional benefit

Brands

• Oak Brook 22: Premier mixed-use property featuring approximately 400,000 square feet of office space and vibrant ground-floor retail at 1211-1315 22nd Street, Oak Brook, IL.
• One Magnificent Mile
• The Shuman
• The Plaza in Clayton

Named customers8 records

Segments4 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered major, core and minor.

• Avgeris & AssociatesmajorStrategic or Co-development Partner · 1 May 2023Franklin Partners and Avgeris & Associates jointly purchased the 7.5-acre site at 1340 Monroe Avenue NW in Grand Rapids for the River North residential development project.
• Wright Heerema ArchitectscoreStrategic or Co-development Partner · 1 April 2018Franklin Partners partnered with Wright Heerema Architects for redevelopment projects including The Shuman in Naperville and The Plaza in Clayton. The collaboration focused on transforming underutilized office properties into modern, amenity-rich spaces.
• Bixby Bridge CapitalmajorStrategic or Co-development Partner · 1 April 2018Franklin Partners acquired the former OfficeMax headquarters in Naperville in a joint venture with Bixby Bridge Capital. The partnership enabled the redevelopment of the 350,000 SF property into The Shuman.
• CBREcoreChannel Partner/ Reseller/ DistributorCBRE serves as the exclusive leasing agent for major Franklin Partners properties including Oak Brook 22 and 13467 Quincy Street. CBRE brokers Pete Adamo, Madeline Leland, and Adam Lawler handle leasing inquiries for Oak Brook 22.
• Advantage Commercial Real EstatecoreChannel Partner/ Reseller/ DistributorAdvantage Commercial Real Estate represents Franklin Partners for industrial land sales including the Meadowbrook & Yore Industrial Site in Benton Harbor, MI. Contact: Duke Suwyn Sior, CCIM.
• FedExminorOthersFedEx operates a 300,000 SF distribution center currently on the Grayslake Business Park property, which is not included in Franklin Partners' sale opportunity.
• Compass InternationalminorOthersCompass International manages the full-service food and coffee bar at The Shuman property.
• LifeStart FitnessminorOthersLifeStart Fitness manages the on-site tenant fitness center at The Shuman property.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Sterling Bay: Chicago-based private real estate developer and investor focused on transformative office, mixed-use, and life-science projects across the Midwest. Comparable as a privately held, vision-driven CRE firm acquiring and repositioning underutilized urban assets.
• Hackman Capital Partners: Chicago-based private real estate investment firm specializing in industrial and office acquisitions and repositioning, with significant Midwest holdings. Comparable as a value-add acquirer of underutilized commercial real estate in the region.
• McCaffery Interests: Privately held Chicago-based real estate investment, development, and management firm with a portfolio spanning office, mixed-use, and retail across the Midwest. Comparable in size, geographic focus, and value-add repositioning approach.
• Bridge Industrial: Privately held Chicago-based industrial real estate developer and investor focused on acquiring and developing Class A logistics and manufacturing facilities in core U.S. markets. Comparable as a Midwest-based industrial land and CRE acquirer.
• GlenStar Properties: Chicago-based private real estate investment and operating company focused on acquiring and repositioning office and mixed-use properties in the Midwest. Directly comparable to Franklin Partners in strategy, geography, and asset class focus.
• The John Buck Company: Privately held Chicago-based real estate investment and development firm focused on Class A office, mixed-use, and multifamily assets in urban core markets. Comparable as a Midwest-focused acquirer and operator of institutional-quality commercial properties.
• Focus Development: Chicago-based privately held commercial real estate investment and development firm specializing in ground-up development and repositioning of office and mixed-use properties in select Midwest markets. Comparable in scale and strategy.

Others

• Greystone & Co. National real estate finance, investment, and development firm with significant multifamily and commercial exposure. Comparable as a privately held commercial real estate owner/operator with capital markets capability.

Broad incumbents

• JLL (Jones Lang LaSalle): Global commercial real estate services and investment management firm providing property management, leasing, and capital markets services. Comparable as a highly relevant CRE firm with several ex-JLL employees on Franklin Partners' team, and operates in the same geographies.
• CBRE Group: World's largest commercial real estate services firm, providing investment management, property management, and brokerage. Relevant as the exclusive leasing channel partner for Franklin Partners' key assets and a potential acquirer or competitor for capital deployment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/GRFranklinP

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Franklin Partners