NDI Takes The Paragon
The Paragon, a 170k SF shopping center on Satellite Boulevard in Gwinnett County, has been sold to NDI Development. Carter repped seller Flagstar Bank, based in Michigan. NDI paid $6.5M, or $38/SF, for the two-story center, which is newly constructed and 95% vacant. Carter's Mark Joines says ultimately the buyer was motivated by the brand new construction and low price per square foot.