Photo courtesy of Cushman & Wakefield

Concord developer and property management exec Stephen Duprey has bought the former Lincoln Financial Group office complex for $7.4 million, according to public records.

Duprey is president of Concord’s Foxfire Property Management.

The 210,353-square-foot, largely-wooded 181.6-acre property at 1 Granite Place features two mid-rise buildings connected by a common atrium, with one built in 1975 and the other in 1985. One building is currently ground-leased to a third party through November 2040. That lease generates $50,000 per year beginning in 2025.

The property had gone on the market in January 2021.

Rather than converting the building to multifamily uses, as many developers have done with aging office properties around the state, Duprey plans to offer the property’s second, unleased building to the state Department of Justice according to The Concord Monitor. A public-private land swap could be in the offing, as well, in order to unlock development potential on the site.