Paragon procured this build-to-suit development project through our strong relationship with the tenant representative for Trader Joe’s, our strong reputation for closing on time with land sellers, and our reputation for executing retail developments for national tenants.
Paragon was able to secure a 3-acre site in Libertyville, Illinois after a competitive bid process with the seller. Recognizing the need for a specialty grocery store in the Libertyville market, Paragon quickly engaged Trader Joe’s and their tenant rep broker in the Chicago area and designed a site plan that satisfied Trader Joe’s needs. Paragon secured all of the necessary governmental entitlements and managed the construction of a 12,500 square foot build-to-suit facility for Trader Joe’s in addition to an adjacent 8,000 square foot multi-tenant retail building anchored by Sherwin-Williams. The Total project cost was approximately $7.1M.