Advised National Developer Throughout Acquisition and Development of Premium Retail Outlet Center
Paragon Outlet Partners, a national developer of luxury-brand outlet shopping centers, sought Larkin Hoffman’s assistance and advice in pursuing the acquisition and development of a 409,000 square foot premium retail outlet center featuring more than 100 national retail brand tenants on a 30-acre redevelopment site that had remained dormant for nearly a decade. Larkin Hoffman’s development and real estate acquisition team, led by Peter Coyle and Ryan Boe, advised Paragon on all facets of the $46.6 million project, including negotiation of the purchase agreement and public finance package with the local government economic development authority, resolving myriad title issues, securing the necessary local government approvals along with a development agreement and coordinating the relocation and reconstruction of major utility and street infrastructure. The resulting project received the Minneapolis/St. Paul Business Journal’s highest award in the publication’s Best in Real Estate Awards in recognition for being the “2013 Development Project of the Year”.