Partial Sale & Leaseback with Migros Neuchâtel-Fribourg in Le Locle
In September 2024, Paragon completed the acquisition of a building from Migros Neuchâtel-Fribourg, located in the center of Le Locle, at the heart of Switzerland’s watchmaking industry. The property comprises approximately 4,800 m² of rental space and is scheduled for a complete renovation.
This transaction, structured as a partial sale and leaseback, reflects the strong partnership between Paragon and Migros Neuchâtel-Fribourg. The national leading retailer Migros has invested over 7 million CHF into a refurbishment of their store, and will retain the entire ground floor for its supermarket operations under a long-term lease agreement. Paragon will be responsible for the redevelopment of the 2,000 m² first floor and the leasing of the available space. A modern Fitness company has already signed a lease for part of the first floor and opened successfully in 2025. Through this investment, Paragon reaffirms its commitment to enhancing urban centers and contributing to the revitalization of Le Locle by giving a second life to this strategically located property.
