Paragon Sells $100M of Redeveloped California Retail

L.A.’s retail infill specialists, Paragon Commercial Group, LLC, ended 2019 selling a trio of high-performing California retail centers for $100 million. Centers included a Trader Joe’s anchored center in Orange County, a Target in Los Angeles County and “The Shops at Todos Santos Plaza” in the East Bay. Each asset sold to a separate buyer.

Paragon principal Jim Dillavou noted, “These properties were either vacant or underutilized upon acquisition, so we were able to invest in these assets to make them relevant and vibrant retail centers that better reflect the realities of today’s dynamic retail environment.”

Each property offered a showcase in redevelopment strategy, with Concord, CA’s “Todos Santos” notably revitalizing an urban streetscape as a vibrant retail environment. In addition to a comprehensive reconstruction at the property, eight new tenants were brought into the project.

Connect Retail West is coming to Newport Coast, CA on Feb. 13. For more information, or to register, click here.

Connect Los Angeles 2020 is coming up on March 26. It will bring together leading local, regional, and national developers, investors, owners, brokers, financiers and other major players for an afternoon of informative panel discussions, plus networking and cocktails. For more information, or to register, click here.

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