Portfolio

51 Research Drive is a 135,000 sf industrial food processing and cold storage build-to-suit project for Monogram Foods, a third party manufacturer and marketer of packaged and value-added foods. The building features various cold storage components at temperatures varying from freezing to sub-zero.

To optimize the deal’s economics, Paradigm entered into a forward purchase agreement with Invesco’s Income Fund, a $2 Billion USD publicly traded REIT. In Q4 of 2022, Invesco closed on the property at a 6.2% Cap Rate on Monogram’s Year 1 Rent for a purchase price of $43,000,000.

711 Atlantic is a six-story 83,324 square foot "brick and beam" office building located in the Leather District of downtown Boston. The office building is multi-tenanted with functional floor plans, and is home to 2 coworking tenants, WeWork and Workbar.

The strategy was to acquire a brick and beam asset in a central business location and fully renovate prior to sale. By renovating the common areas, lobby, basement, and over-improving the top floor suites, Paradigm repositioned the asset successfully. The sale closed in August 2004 for $17,400,000 to Lexham Realty.

8 Seafood Way is a 68,002 square foot single-story warehouse building in the Maritime District within the Seaport District of Boston, a waterfront area that has traditionally represented the core of Boston's seafood industry. The building is a multi-cliented seafood processing and distribution facility.

The strategy was to invest in a distressed asset, buy a durable location in a constrained market, and collect steady cash yields. The premises is part of a larger parcel of land that Massport leases long term from the Economic Development and Industrial Corporation. Paradigm completed negotiations with Massport to extend the ground sublease that gives the subtenant control of the 3.02 acres of waterfront until 2070. The sale closed in February 2017 to Chestnut Realty for $12,900,000. Paradigm still manages the building.

RS 56 is a three building, multi-tenant R&D-Flex property containing approximately 145,000 square feet of net rentable area on a 3.531-acre parcel of land. The portfolio serves Tough Tech R&D companies focusing on Clean Technology, Advanced Systems and Infrastructure, and Human Health fields.

The initial vision for the property focused successfully on both the R&D and creative office markets. The property was stabilized after renovation by a mix of these users by 2017-2018. Due to COVID's impact on the office market, ownership has decided to move forward with a repositioning plan to undertake targeted infrastructure upgrades to eliminate office space and make the property pure R&D. These upgrades cater to the needs of fledging technology companies that are attracted to the asset and its location.

625 Mount Auburn Street is a 137,421 square foot multi-tenant Class A office property in West Cambridge, MA. The building was originally built in 1962, and fully renovated and expanded in 2001. The property includes medical office tenants as well as standard office users.

With a strong rent roll, high occupancy and a blended weighted average lease term (WALT) of 7+ years, the deal provides strong long-term cash flow with upside potential through incremental leasing, base building improvements, and market-leading property management.

Riverworks is a fully renovated, multi-tenanted, 204,500 square foot boutique brick-and-beam campus. There are three primary interconnected buildings varying in height from 1-4 stories and presenting a wide range of floor configurations available to suit potential tenants.

The strategy was to acquire Riverworks as a core-plus asset and maintain the high occupancy rate through client retention. After acquisition, Paradigm realized mark-to-market rents on renewals and new leases, and enhanced the current amenities at the property. Our project management team implemented a plan, targeting deferred maintenance and much needed CAPEX improvements including the clocktower & façade masonry work, new roofs, and elevator modernizations. The property will be held for seven to ten years using favorable debt financing with long term I/O and exit to a core buyer.

10 Washington Street is a fully entitled purpose-built lab development project. The 78,000 square foot design for the site presents a shovel-ready development project positioned to take advantage of the depth of Human Health/Life Science users at the crosshairs of the Cambridge Crossing, Union Square, and Assembly Row neighborhoods.

The completed approvals process adds significant value to the land site owned by Paradigm Direct Fund in Somerville and presents a direct path to development when debt and leasing market conditions support future construction.

The Davenport Building, located at 25 First Street in East Cambridge, is a 239,330 square foot four-story multi-tenant office building. The building offers unique interior finishes and represents a successful example of a "brick and beam" rehabilitation in the Greater Boston area.

The investment play was to acquire one of the most desirable buildings in Cambridge at a healthy going-in yield with a stable and solid rent roll, with upside that could be realized in a few years when space significantly below market rolled. The Davenport sold in February 2002 for $53,500,000

110 Shawmut Road is a 70,350 square foot single story flex building situated in Shawmut Park in Canton on a 5.3 acre site. The steel frame building has 12 loading docks and a clear height of 21', with some mezzanine space that functions well for a variety of industrial users.

The strategy was to acquire Class B industrial product on the outskirts of Boston. The tenants in the building upon acquisition were paying well below market rents, and the investment play was to realize value when these tenants rolled to mark-to-market rents. 110 Shawmut Road sold in December 2014 for $5,900,000.