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STERLING HEIGHTS, MI-While many other new suburban office buildings stand vacant, Colliers International found tenants for the $4-million building. The firm touted the area’s demographics and booming residential growth, explains Jennifer Butterfield, a sales associate in Colliers’ office brokerage group.

“There are nearly 5,000 homes valued at $300,000 and up within 10 miles of Sterling Plaza II. Companies are recognizing the market’s buying power and establishing offices here to serve them,” Butterfield says.

Some of the new leases in Sterling Plaza II represent the first “east side” presence for these companies, which include:

* Charles Schwab & Company, a 4,500-sf brokerage office.

* Standard Federal Bank, a 7,000-sf commercial loan office.

* Liberty Mutual Insurance Co, a 1,600-sf sales office.

* Great Lakes Mortgage Funding, a 2,325-sf mortgage origination office.

Two additional leases await signature by the tenants — a law firm leasing 1,500 sf and a local contractor leasing approximately 1,300 sf. Butterfield reports continued interest in the building’s remaining 10,000 rentable sf, noting a newly received proposal from a financial services firm interested in leasing 3,000 sf.

The two-story brick Sterling Plaza II is on Lakeside Circle, within walking distance of Lakeside Mall and within minutes of the many retailers, restaurants and services on Hall Road. It joins the 30,750-sf Sterling Plaza I, which was fully leased to automotive supplier Cross Huller North America, a division of Thyssen Krupp, in January 2000.

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