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Paradigm Capital Advisors Buys Somerville, Charlestown Office Buildings For $12.3M

Dec 17, 2013 | Reprints | Unlock Link | Print

Boston-based Paradigm Capital Advisors has acquired 52-56 Roland St. in Somerville and Charlestown from The Praedium Group for $12.3 million.

The three buildings consist of multi-tenant office/flex space containing approximately 160,000 square feet of net rentable area on a 4.476 parcel of land. Paradigm plans to completely re-brand and renovate the property in 2014. Neil Middleton at TRO Jung Brannen will be the project architect.

"We love the potential of these buildings," John Caldwell, managing director of Paradigm, said in a statement. "Our renovation will make Roland Street a terrific alternative for tenants fleeing rate increases in Cambridge and Boston. We look forward to presenting the new space to the market in the summer of 2014."

Commercial & Industrial