Great Barrington, MA Paragon Realty Group LLC of Westport, Connecticut has acquired Barrington Plaza, a 131,000 s/f grocery-anchored community shopping center.
A 44,667 s/f Price Chopper supermarket and new 24,141 s/f Marshalls co-anchor this area’s shopping center. Marshalls, which opened in November 2017, replaces a large portion of a former Kmart store.
John Nelson, president and CEO of Paragon said, “We are excited to expand once again in the Northeast. We believe that the existing tenant performance and rental structures, combined with leasing momentum plus 35,000 s/f of remaining available space, creates a situation with fairly minimal downside risk and substantial opportunity for upside.”
Paragon purchased the property from an affiliate of Kimco Realty Corporation. JLL, represented by Nat Heald and Chris Angelone, was the broker in the transaction. Property management will be provided by Paragon’s in-house management division.