Real Estate Weekly
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Clarion, Paragon sign flagship deal with UK retailer

Clarion Partners and its JV partner, Paragon Realty Group, has signed a 10,542 s/f lease with furniture retailer OKA at 44 Main Street in Westport, CT.

Cushman & Wakefield’s Alan Schmerzler and Kathleen Fazio arranged the long-term lease on behalf of the landlord, Westport Main Street Retail LLC – a partnership of Westport-based Paragon Realty Group LLC and New York-based Clarion Partners. Cassie Durand of CBRE represented OKA, which sells luxury furniture, décor and home accessories and will use the two-level space for its U.S. flagship store.

“OKA’s selection of 44 Main Street for its U.S. flagship store is a tremendous example of the strength of the suburban communities that comprise Connecticut’s Gold Coast,” said Schmerzler. “The completion of this transaction, which was on hold for a year due to the pandemic, reaffirms the value, vitality and importance of suburban retail, as well as the critical role that main streets play in international and national brands’ store portfolios.”

Added Sean O’Connor, senior vice president at Clarion Partners, LLC and John Nelson, managing principal of Paragon Realty Group LLC, “Clarion Partners and Paragon Realty Group are thrilled to announce the addition of London based luxury home furnishing company OKA to Westport, CT. OKA’s thoughtful decision to make downtown Westport their US beachhead speaks volumes to the strength of the residential real estate market in Fairfield County, particularly coming out of the pandemic when consumers have spent less on entertainment and travel, and more on their homes. We are excited to be a part of their future growth and success within the U.S.”

44 Main Street is located at the center of Main Street in Westport, one of Connecticut’s premier communities. The property boasts 66 feet of frontage on Main Street and 84 feet on Elm Street, and is surrounded by upscale national retailers including lululemon, Athleta, Peloton, Tiffany, Brooks Brothers, 7 for all Mankind, Pottery Barn, Anthropologie, Urban Outfitters, J. Crew, Madewell and many others.

OKA currently has 14 stores across the United Kingdom, with this lease marking its first U.S. location.

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