Two Rivers City Manager Greg Buckley
The Two Rivers City Council has signed a purchase agreement with TRIVERS LLC of Oshkosh headed by Real Estate Developer Art Dumke, to purchase the former Paragon Partners Property at 606 Parkway Boulevard.
City Manager Greg Buckley confirms the purchase price was $1.2 million. “Art is a developer who has a good track record in the area of redeveloping complexes as a landlord for both manufacturing and warehousing distribution activities. He seems to have a pretty realistic view of what going to be required for reinvestment in the facility.”
The Paragon Partner’s property has been vacant for more than twenty years after being foreclosed on with Two Rivers eventually purchasing the property during a sheriff’s sale in 2019. Buckley reiterates that this is not a done deal yet.
“As of Monday night when we signed the agreement, it commences a 90-day due diligence period but there’s earnest money that’s been placed and we’re optimistic we can move things forward. We’ve already been referring some prospective tenants to him.”
The amount of earnest money was not disclosed and becomes non-refundable after 45 days from November 29th, the signed agreement date.
The Two Rivers City Manager emphasized that it was never the goal for the city to own it but to find a buyer, fix it up and create jobs to get it back on the tax roll.
