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BOSTON-The Massachusetts Association of Health Plans Inc. is relocating to 40 Court St. with a lease on 4,025-sf of space. The organization signed a five-year deal for the fifth floor of the 12-story, 115,000-sf building.

Bill Crean of CB Richard Ellis/Whittier Partners represented Paradigm Properties, which owns and manages the building, in the transaction. No other broker was involved in the deal. John T. Caldwell, managing director of Paradigm Properties, notes that the association specifically wanted a location in the Downtown area. “Forty Court Street offers 12 stories of renovated space conveniently located at the intersection of Court Street, Tremont Street, and Cambridge Street in Boston,” he says.

Lease rates for this deal were not available, but the average asking rate for space in the area is about $44 per sf.

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