"It's got some real character that we think will appeal to themarket," says Paradigm president Kevin McCall. The property wasshuttered three years ago as part of a downsizing program by ownerOsram Sylvania.

McCall would not discuss financials, but sources say the hulkingbrick building was being offered for $7.5 million. The broker, GregKlemmer of Klemmer Associates in Winchester, declined to offerspecifics until the property closes, but says he believes it willwork well as an office. It was previously marketed formanufacturing and flex space, but Klemmer says the strong officemarket is pushing demand farther out into the North Shore.

"It's in a very good location," says Klemmer, noting there arethree exits off Route 128 nearby the building, which is also closeto a major strip of shopping centers and restaurants and thebedroom communities of Marblehead and Lynnfield. Whatever theattractions, activity certainly has been solid in the area, withSpaulding & Slye Colliers research analyst Ben Breslaureporting a 5.1 % vacancy rate in the North Shore market, down from11.1% at the start of the year. He says the 7.2-million-sf markethas seen 800,000 sf of net absorption thus far in 2000 after850,000 sf in 1999.