News:
Brokerage
Posted: January 26, 2018
Paragon Realty Group acquires 131,000 s/f Barrington Plaza
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.
MORE FROM Brokerage
Six months later: How RBCRs are changing real estate transactions - by Louis Muratore
This shift from transaction-driven to release-driven regulation is already influencing how buyers, sellers, and developers evaluate environmental risk. Under the CPTP framework, environmental obligations were often triggered solely because a qualifying property changed ownership. The result was that many transactions became bogged down by environmental compliance requirements that had little relationship to current environmental risks.
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
September Promotion
