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Los Angeles — Paragon Commercial Group has acquired a 46,055-square-foot shopping center located in the Tujunga neighborhood of Los Angeles. The property is anchored by Smart & Final, a tenant of more than 30 years, and Goodwill, which has occupied the center for 25 years. Paragon plans to upgrade the center with improvements to the common area, façades, lighting and signage.
Greg Offsay and Caleb Morrison of illi Commercial Real Estate represented the buyer in the off-market transaction. The seller was the family of the original developer that had owned and operated the property for more than six decades prior to Paragon’s purchase.