The single-story building is owned and managed by I. F. Dicenso Trust and is in the process of undergoing a complete renovation and upgrade including new exterior skin, HVAC systems, roof, parking lot and landscaping.

Mark Stevens, principal of GVA Thompson Doyle Hennessey & Stevens, represented the property owner as exclusive agent, and Doug Porter and John Ross of The Begley Company negotiated on behalf of the tenant, a full-service distributor of heating & cooling equipment and parts. The company currently operates from six locations in the area, including Woburn, Beverly, Franklin, Hyannis, and Randolph and Hudson, NH. They also operate a 22,000-sf sheet metal facility in Woburn, which will be consolidated into the Wilmington location.

While the office market continues to struggle to fill space, the industrial sector remains relatively healthy. According to fourth quarter statistics for 2002, the availability rate for industrial space in the suburbs was 9.7% as compared with 21.9% availability rate for office space.