Duprey Acquires Brady Sullivan Holdings At Granite Place In Concord

CONCORD, NH — Brady Sullivan has sold its land holdings at the former Lincoln Financial property bordering the city’s West End and North End neighborhoods.

The Duprey Companies purchased the two parcels from the Manchester company on June 15. The purchase includes a 107-acre parcel, currently zoned residential, which borders Penacook Street and Little Pond Road in the West End, and the second parcel of about 34 acres which houses 2 Granite Place, the southern building formerly owned by Lincoln Financial.

There has been speculation for many decades about what the future holds for the parcels — especially the vacant 107 acres. The recent decision by the Concord City Council to remove the Northwest Bypass, also known as Langley Parkway Phase 3, from the city’s long-term project list, paves the way for various uses of the property. The monstrous roadway, with its various potential roundabouts or dead-ends, ran through the southeastern section of the south building's parcel.

Steve Duprey said he paid $7.4 million for the two parcels. Duprey’s company has a long-term lease with an option to buy the north building through 2040, which he purchased for $1.7 million in May 2015. The north building controls the access to both buildings. This is the third property he has purchased from Brady Sullivan, Duprey said.

“They are opportunistic buyers who can move quickly and that in turn gives me the time to create redevelopment options and to purchase from them,” he said. “We have exciting plans for this building and the property. We are going to start a planning process for the use of the land in the near future and are working to lease the south building.”

The south building and two parcels were on the market for nearly two years for $6 million. The two parcels were sold to a Brady Sullivan subsidiary for $3.4 million in May 2021.

There has also been speculation that the New Hampshire Attorney General’s Office will move into the complex as part of a plan to remove the Legislative garage on Storrs Street and have a new 600-space parking garage constructed next to the Legislative Office Building on Capitol Street for $35 million.

With the acquisition, Duprey said, 1, 2 Granite Place becomes the largest privately owned office building complex in the capital region as well as one of the premier office properties in the state. He thanked his legal team at Orr and Reno as well as Bank of New Hampshire and Foxfire Property Management for making “this closing happen in a quick time period to prevent future interest rate rise risk.”

The property was originally built in 1976 and 1986 as the home of Chubb Insurance before the company was acquired by Lincoln Financial. The company still has employees in Concord and was once one of the city’s largest employers, but the bulk of them have moved to other locations around the country or work remotely. There have also been a number of homeless camps sprouting up on the parcel as well as fires during the past two years.

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