PARAMOUNT. CA-Shopping centers Paramount Town Center East and Paramount West have been sold in separate deals. The centers had been under the same ownership and are separated by Paramount Blvd. near the intersection of Alondra Blvd.

SVP Tom Lagos of Colliers International tells GlobeSt.com that “Paramount Town Center East and West were offered for sale as both a single transaction and as separate investments. We recognized that East and West both had a slightly different buyer profile. Separating them exposed the asset to a larger buyer pool and allowed us to drive value for our client, ultimately attaining a higher price for each asset than what could have been achieved if they had been sold together.”

Lagos says the deal was a “rare urban infill opportunity to purchase a well-occupied shopping center in south Los Angeles, an opportunity that rarely, if ever, comes on the market. The property no longer fit the owner's core investment strategies and the buyer found the opportunity to be one of the best urban investment offerings available after surveying the entire region.” Both deals were all-cash transactions, with buyers arranging their own financing after the close of escrow.