Paragon Realty affiliate acquires 58,193 s/f commercial/retail property

According to John Nelson, managing member of Paragon Realty Group LLC, the company has acquired of a 58,193 s/f commercial and retail property on 2.84 acres. The site includes 490 and 508 Westport Ave. (Post Rd.) and is located near the Westport/Norwalk border. The 47,530 s/f complex at 490 Westport Ave. is 100% leased to Ski Market and the Fitness and Tennis Club. The 10,663 s/f building at 508 Westport Ave. is currently occupied by six office tenants with space available to lease. "We were delighted to be able to acquire such an important and prominent property in this exclusive market. This complements our existing portfolio and augments our commitment to our local market," said John Nelson. Paragon Management Group LLC will be overseeing the management and the leasing of the properties. Paragon and its affiliates presently own in excess of two million square feet of investment real estate.