Elizabeth, NC (PressExposure) February 06, 2009 -- James K, (Jim) Nance, of Paradigm Development Group LLC announced today that Nortech Commercial Realty has been named the groupâs Corporate Agent. âParadigm is on a solid basis in all its medical and business parks.â said Nance, âbut we feel that we need add outside investment partners to take advantage of todayâs depressed market. While our parks were financed for the long term, there are many opportunities to expand our brand in North Eastern North Carolina and be ready for a renewed interest in medical, assisted living and business real estate.
Paradigmâs senior management consists of Nance, (Finance and Development) and Al Chesson, (Construction). A. R. Chesson is the preeminent commercial builder in NENC. Together they have developed business, and medical parks in Washington, Williamston, Edenton and Wanchese NC with future plans for Bethel and Greenville. Because of their combined expertise they are able to build-to-suit efficiently and quickly.
Says Nance, âIâve been a developer for over 30 years, both here and in Texas, and I have never seen a climate more ready for development than right now. Raw land costs have come down to earth while construction costs are now bare bones. âAl Chesson agrees, âCompetition is toughâ, he said, âbut we are still keeping up the quality. By doing things in-house weâre able to be more efficient and pass the savings on to the customer.â
Nortech Senior Director, Peter Thomson, said he was pleased with his new assignment.. He emphasized that this was not search for investors in present projects, but trying to find a group that could work with Paradigm senior management to expand the scope of operation. âJim Nance and Al Chesson are doing just fine, and the present projects are well capitalized. Naturally weâd like to sell the present sites, but they are in great locations and that will comeâ, Thomson said. âOur thrust now is to help Paradigm prepare for renewed regional growth. North East North Carolina is an area that is attractive to retirees, and even now has many medical and business needs that are not being met.â