Retail investment and development firm Paragon Commercial Group announced the appointment of Jeffrey S. Berkes as chief investment officer. Berkes brings more than 30 years of retail industry experience, including 24 years at Federal Realty Investment Trust, where he served as president and chief operating officer.
The strategic hire signals Paragon’s anticipated growth in 2026 as the firm looks to leverage its well-known retail development capabilities with additional core, core-plus and value-add acquisitions throughout the western United States.
“Jeff’s arrival at Paragon represents a pivotal moment for our firm,” said Mark Harrigian, co-founder and principal of Paragon Commercial Group. “His unparalleled expertise in transforming retail portfolios, his proven ability to identify and execute high-value investment opportunities and his track record of building high-performing teams make him the ideal leader to guide our investment strategy as we enter our next phase of growth.”
During his tenure at Federal Realty, Berkes drove exponential financial and portfolio growth. Most recently serving as president and COO from 2021 to 2024, he provided executive oversight across all facets of the business while leading the growth of company’s portfolio from 13 million square feet of shopping centers to 102 high-quality open-air and mixed-use properties totaling 27 million square feet, including roughly 3,100 residential units.
Prior to his role as president and COO, Berkes served as Federal Realty’s Western Region president (2011-2021), where he pioneered the decentralization of operations and achieved double-digit growth in operating income. As chief investment officer (2003-2011), he expanded Federal Realty’s portfolio through strategic acquisitions and divestitures, while rebuilding the company’s investment capabilities and market reputation.
Berkes’ expertise spans all aspects of retail real estate, including investment strategy, portfolio optimization, development oversight, capital markets and asset management.
He holds an MBA in finance from The George Washington University and a bachelor’s degree in real estate and finance from the University of Denver. He is an active member of the Urban Land Institute, where he served on the leadership team of the CRC Gold Council, as well as the International Council of Shopping Centers (ICSC) and UC Berkeley Fisher Center for Real Estate.
