The four-story office building, built in 1989, is owned and managed by Paradigm Properties LLC, a Boston-based real estate investment and management firm, and contains 66,217 sf of office and first floor retail space. The building is located in Davis Square and is about 80% occupied with 15,000 sf available for sublease.
The overall available space in the Somerville area is at 31.4%, up slightly from 30% in January, but up significantly from January 2002, when the overall available space was at 24.4%.
Paradigm Properties was founded in 1997 as a vehicle for institutional investors to acquire multi-tenanted office buildings in the Northeast. The firm now owns and manages more than two million sf of office space in Boston, Washington DC and Columbus, OH.
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