MG Commercial Real Estate Sold to Longtime PartnersGeorge Paskalis and Leeds Mitchell IV

For Immediate Release
Contact: Kate Murphy
Regan Communications
401-808-4649
[email protected]
 
MG Commercial Real Estate Sold to Longtime Partners
George Paskalis and Leeds Mitchell IV
Outgoing President & Founder Mike Giuttari to stay on as President Emeritus
 
Providence, RI - July 15, 2024 – MG Commercial Real Estate, a full-service commercial real estate brokerage company located at 365 Eddy Street in Providence, Rhode Island, has been purchased by the firm’s two long-time partners, George Paskalis and Leeds Mitchell IV, from Mike Giuttari, the firm’s president and founder. 
“We are so proud to announce our purchase of MG Commercial,” said George Paskalis, “I have spent the majority of my career learning this business from Mike, one of the most talented and experienced people in this industry. Starting this new chapter with Leeds is an honor and I am looking forward to the future of MG Commercial.”
The sale was completed on June 28, 2024 for an undisclosed amount. Giuttari, who has been in the commercial real estate business for 38 years, will stay on at MG Commercial as president emeritus.
“In our combined 44 years of experience at the firm, George and I have had the great fortune of working alongside Mike as we built one of the largest portfolios in the region,” added Leeds Mitchell IV.  “We are committed to a seamless transition as we advance the business into the next generation, leveraging our strong reputation, talented brokers and unparalleled client service.”
Founded in 1998, MG Commercial is the number one independent commercial real estate firm in Rhode Island and Southeastern Massachusetts and is consistently rated in the top three commercial real estate firms by Providence Business News.
“I am so proud of the success MG Commercial has seen since I founded it 26 years ago,” said Mike Giuttari, president emeritus.  “This transition is of course bittersweet, but I am happy to be leaving the firm’s legacy in the hands of George and Leeds, who have been instrumental in our growth for more than two decades. I have the utmost confidence in their abilities to continue this trajectory well into the future.” 
Considered one of the top industrial specialists in the region, George Paskalis has been a commercial real estate broker for 25 years.  His notable recent transactions include the sale of a 245,000 square-foot manufacturing facility in Cumberland, RI for $7.45M to the Okonite Companies, the sale of a 116,000 square-foot warehouse facility in East Providence, RI to Future Foam for $4M, and the sale of a 108,000 square-foot manufacturing facility in East Providence, RI for $5.8M to an investment group. He has also recently completed the following lease deals: 46,400 square feet of warehouse space in Pawtucket, RI to the USPS, 45,000 square feet in Cumberland, RI to Reeb Millwork, and 65,000 square feet in Johnston, RI to Pure Haven.
Paskalis has been a member of the Rhode Island Building Owners Association, where he served six years as a Board Member and President; the Greater Providence Chamber of Commerce; and the Rhode Island Manufacturers Association. He holds the SIOR designation (Society of Industrial and Office Realtors®), a professional symbol of the highest level of knowledge, production, and ethics in the commercial real estate industry, and is President-Elect for the New England SIOR Chapter. Paskalis holds a degree in economics from the University of Rochester in Rochester, New York.  He resides in East Greenwich, Rhode Island.
Leeds Mitchell IV joined MG Commercial in 2004, with a primary focus on office sales, leasing and investment sales throughout Rhode Island and Southeastern Massachusetts. His clients have included Lifespan, John Hancock Financial Services, Morgan Stanley, Schneider Electric, Ameriprise Financial, Rockland Trust, Bristol County Savings Bank, Securitas Security Services, Rhode Island Medical Imaging, Roger Williams University, Canon Business Solutions, The New England Institute of Technology, UnitedHealthcare, Nabsys, and Upserve (formally Swipely).
Mitchell’s exclusive listings include the 150,000 square-foot Summit Executive Park, 120,000 square-foot Gateway Center and the 120,000 SF Metro East Office Park in Warwick, RI for Michael Integlia & Company; the 100,000 square-foot Airport Professional Park in Warwick; the 60,000 square-foot Lincoln Corporate Center in Lincoln and the Grey Ledge Business Park in Smithfield.
A graduate of the Providence Country Day School, Mitchell holds a Bachelor of Arts degree in Political Science from Hobart College. In 2011, Providence Business News named him as one of their prestigious 40 Under Forty and in 2015, he was the honored recipient of the Robert W. Holmes Scholarship given by the New England Chapter SIOR. Mitchell is also a member of Leadership Rhode Island’s 2015 Lambda II class. In 2019, he received the SIOR designation.
Mitchell is a past trustee of the Paul Cuffee Charter School where he chaired the Plant and Property Committee, serves as treasurer of the Pacific Club of Nantucket, is president of the Rhode Island International Sailing Association, and is an active member of the New York Yacht Club.  Mitchell is also past president of the Business Exchange Club of Rhode Island and a former trustee of the Providence Preservation Society. He currently resides in Barrington, Rhode Island with his wife and two children.
About MG Commercial Real Estate
MG Commercial Real Estate is a full-service commercial real estate brokerage company, selling and leasing commercial real estate and consulting for a wide range of clients including landlords, tenants, individuals, investors, and institutions. Since 1998, the MG Commercial team has advised, brokered, and facilitated all forms of commercial real estate negotiations in Southern New England, providing a strategic advantage not only for local advisors, clients, companies, and organizations, but for any business nationwide seeking expert counsel and commercial real estate results.
This depth of hard-earned knowledge in addressing the specific leasing, purchasing, and marketing needs of MG Commercial’s clients – and its approach to partnering with clients – has made them an invaluable resource.
With more than 125 years of combined experience, MG Commercial’s brokers and agents have personally advised, brokered and facilitated thousands of commercial real estate transactions in Southern New England and has been regularly ranked the #1 Commercial Real Estate Brokerage Firm by the Providence Business News and the Top Leasing Firm, Top Sales Firm, Top Office Leasing Brokers, Top Retail Leasing Brokers, Top Industrial Leasing Brokers, and Top Sales Brokers by CoStar. For more information, visit www.mgcommercial.com.