FRAMINGHAM, MA-In its first purchase of the year in the Greater Boston area, Boston-based Paradigm Properties acquires 959 Concord St. for $12.15 million. Leggat McCall Properties sold the 76,000-sf building.

At a little over $160 per sf, James Belli, a senior director at Cushman & Wakefield, tells that the deal was a “pretty strong price per sf.” Belli’s firm brokered the deal on behalf of Leggat McCall. Belli notes that the MetroWest market where this property is located has been strong even while the overall market has been a lot slower. “Investors are looking for a good, stable market,” he notes. “This is a good submarket. There is no near-term rollover and they are getting a good chunk in return. People are concerned about where rents are at and where they are going.” The building is fully leased with tenants such as Process Software, Carlson Design and Pitney Bowes. Lease rates range from $28 to $34 per sf, according to Belli.

The 14-year-old office building was developed by Leggat McCall, which has been restructured since the retirement of its two principals. In the past year, the company disposed of $550 million worth of commercial property. Among its recent sales were Ten Post Office Square, 855 Boylston St. and 40 Broad St., all in Boston.

For Paradigm, this purchase is its first in the area in nearly a year. Last year, the company made nine commercial property acquisitions, including the 20-story office tower at 99 Summer St. in Boston for $66.5 million. The company’s portfolio is focused on the Boston-Washington, DC corridor.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.