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Concord’s Lincoln Financial building and 180 acres in city’s core up for sale

  • Beavers had taken up residence in the Lincoln Financial site’s pond earlier in 2020. Monitor file

Monitor staff
Published: 12/30/2020 1:45:18 PM

A nearly-182 acre property in Concord owned by Lincoln Financial is up for sale, opening an uncertain chapter for a city mainstay that has diminished in stature in recent years.

The property, tucked away just off northern Rumford Street, has been listed for $6 million, according to an ad distributed in local media, including the Monitor. It includes two office buildings sized at a total of 210,353 square feet. 

Now, the future for the property is not clear, Concord Mayor Jim Bouley said in an interview Tuesday. There could be one buyer who snaps up the whole property. Or the property could splinter. The land is zoned for multiple uses, including a portion for residential development, and it rests on what could be prime real estate a short hop from the highway.

“It is a very desirable piece for the city to continue to develop,” Bouley said. “We look forward as a city to working with the new owner.”

Headquarted in Radnor, Penn., Lincoln Financial is a Fortune 250 company that offers investment management, financial advice and insurance sales. 

For decades, it provided a steady flow of employment for the Concord area, and stayed part of the local fabric through fundraising and philanthropy. 

In Concord, the company at times volunteered in the community, partnering with United Way and spending a day recently with the Merrimack Valley Day Care Service, and at other times the Canterbury Shaker Village.

The company also maintained a foundation, the Lincoln Financial Foundation, that has occasionally donated to local efforts, such as the New Hampshire Humanities of Concord, Second Start, and Ascentra Community Services. It has helped sponsor local efforts such as Concord Reads. 

And in 2017, the company helped donate funds to support Concord’s winter shelter on North Main Street. 

In recent years, the company’s footprint in the city has shrunk considerably, Bouley said in an interview. That included a mass action where most employees were sent home, which coincided with the onset of the COVID-19 pandemic, he said. 

But the property hasn't been lifeless. Recently, a pair of beavers moved in to the office park’s artificial pond. 

Bouley said that he was unaware of the exact reasons that led to the sale. But he said that the now-empty office buildings are a symbol of the unique new reality brought on by the pandemic.

“There is an important topic that it raises … and that is: What is the new normal when we come out of COVID?” he said. “When we start looking at the need for office space, is there going to be as great a demand as there was prior to?”

The answer to that is in the hands of the real estate agents. Still, Bouley says that for companies looking for New Hampshire office space with room that’s just off I-93, the Lincoln Financial buildings presents a clear opportunity.

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