The full-service commercial real estate brokerage company MG Commercial Real Estate has been purchased by the firm’s two long-time partners, George Paskalis and Leeds Mitchell IV. 

Mitchell, a Barrington resident, and Paskalis, of East Greenwich, purchased the company from Mike Giuttari, the firm’s president and founder, for an undisclosed amount.

“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,” said Mitchell. “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.” 

The sale was completed on June 28. Giuttari, who has been in the commercial real estate business for 38 years, will stay on at MG Commercial as president emeritus.

“I am so proud of the success MG Commercial has seen since I founded it 26 years ago,” said Giuttari. “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.” 

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.

Mitchell 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 square-foot Metro East Office Park in Warwick 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 resides in Barrington with his wife and two children.