Paragon Commercial has acquired a nine-acre retail center that houses a 128k SF Target. The center is close to Apple’s campus and about one mile from Apple’s under-construction global HQ expansion.
Paragon principal Jim Dillavou (here in the company’s new El Segundo digs) tells us there’s incredible upside to the center at 20745 Stevens Creek Blvd, and Paragon is definitely looking at a value-add play, which could be adding additional retail space or potential other uses, but it’s too early to really know. The company is bullish on the market (who isn’t?) and plans to make other acquisitions in the region this year, he tells us.
Read the full story on BISNOW, here.