This was another divestiture of a Centro asset, which Paramount says it bought below market value as well as below replacement cost. A representative for Paramount tells GlobeSt.com that the company was interested in the Commons for it's "upside opportunity" with a vacant space formerly occupied by Linens n' Things. Paramount is close to signing what the rep referred to as a "national tenant."
Other tenants for the property are Marshalls, Barnes & Nobel, Bob's Stores, Old Navy, Office Depot, Michael's and Petco. The financing for the purchase was received from an unnamed local bank. Cushman and Wakefield brokered the deal, although further terms of the financing were not disclosed.
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