Chuck O'Connor and Will Foley of Trammell Crow Co. represented McGraw-Hill in the transaction, while property owner Paradigm Properties represented itself.

The six-story "brick and beam" building is located in the Leather District of the city's South Station market. Paradigm acquired the property in December 1999. It is nearly fully leased to a number of tenants including Standard & Poors, Beacon Learning, Traveler's Aid, Rothman Partners, Cubellis Associates, Inc., Trilium Asset Management, Experio Solutions and Taylor & Partners.

The city continues to experience relatively high vacancies with most recent reports indicating that vacancy rates are about 16%. The available space is still putting pressure on rents with Codman Co. reporting that rents went down an additional 2% from the end of last year, a figure that is 50% lower than the highs of 2000.