Paradigm Industrial Partners I has bought a 204,000-square-foot manufacturing facility in Haverhill for $15.5 million.

The building at 20 Computer Drive is long-term leased to two companies.

Paradigm Industrial Partners I is a focused separate account program that Boston-based commercial real estate investment and management firm Paradigm Capital Advisors formed with an insurance company partner.

"In a challenging market, we’re delighted to make 20 Computer Drive our first Boston area acquisition for Paradigm Industrial Partners I," said Kevin McCall, president and CEO of Paradigm Capital Advisors and its management affiliate, Paradigm Properties. "The program continues the direction of our last fund, APCA Property Fund I, in focusing on the relative safety and opportunity for strong, risk-adjusted returns in industrial, and this building is right in the crosshairs of our strategy."

Greg Klemmer, of Klemmer Assoc., represented the seller "and was tremendously helpful in the transaction" said McCall.