"It's a nice building that fits all their needs," broker KeithCoulter explains to GlobeSt.com of his client's attraction to 20Industrial Ave. A moving company focused on the Greater Lowellarea, Sterling officials considered the property's quick access toInterstate 495 and Route 3 as key, relays the broker. Coulter is asenior vice president at tenant representation company McPhersonCorp./ATR Boston, whose local office is in Waltham.


The off-market transaction follows a search of the surroundingarea when Sterling's growth demanded additional space, arequirement coupled with a desire by company officials to have anownership stake in their facilities. A tenant representationspecialist for more than 25 years, Coulter says most clients tendto prefer leasing, but Sterling had enough of a long-range plan tomake the commitment to one location. "It has to be the rightsituation, and for them, this was," says Coulter, who adds heapproached NBF with the suggestion the building might be suitablefor Sterling. NBF paid $2.1 million for 20 Industrial Ave. inJanuary 2006 as part of a package along with 10 Industrial Ave.


According to Coulter, whose firm is a member of the Alliance ofTenant Representatives, the physical elements of 20 Industrial Ave.helped seal the acquisition. Besides clear heights of 25 feet andcolumn spacing of 30-by-50-feet, there are ample loading docksneeded by Sterling. Built in 1983 on a 7.35-acre parcel, theproperty also has heavy power and is air-conditioned, while amezzanine office section of 16,000 sf also will allow the firm tooperate its headquarters from 20 Industrial Ave., adds Coulter.Sterling is getting ready to relocate from its current headquartersin Lowell.


NBF still owns 10 Industrial Ave. and reportedly has a long-termlease in place that provides a measure of stability. Companyofficials were unavailable to comment on the sale of 20 IndustrialAve.

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