PETALUMA, CALIF. — Paragon Commercial Group and Canyon Partners Real Estate have purchased Washington Square, a multi-tenant, grocery-anchored shopping center in Petaluma. This acquisition is the ninth investment completed by Paragon and its joint venture with Canyon Catalyst Fund, and Paragon’s fifth retail acquisition in 2021. Terms of the transaction were not released.
Situated on the corner of South McDowell Boulevard and East Washington Street, Washington Square features 215,761 square feet of retail space. Current tenants include Bank of America, Wells Fargo, WestAmerica Bank, Planet Fitness, Party City and Pet Food Express.
The center was developed in 1971 and owned by the same company for 35 years.