Framingham-based New Dover Associates Inc. negotiated thetransaction, led by the real estate services firm's president,Scott Hughes, who represented the seller and procured the buyer.According to Hughes, the single-story, brick-and-block propertyprovides a steady existing rental stream, and there is anopportunity to increase those rates over the near term. "I think[the buyer] was pleased," says Hughes. "Natick is a very strongmarket." Located in the East Natick Business Park on a 2.1-acreparcel, 9 Tech Circle also provides quick access to major roadwayssuch as nearby Route 9 and the Massachusetts Turnpike.

Hughes had initially shown the buyer another asset KAR isshopping in Milford that did not fit the prospect's profile, butwhen the broker mentioned KAR's Natick asset, that did meet thecriteria. To Hughes, a veteran CRE professional experienced in bothinvestment sales and leasing, the moral is to "keep talking to yourcustomer."

Nine 9 Tech Circle received a range of interest from suitors,says Hughes, adding he believes the response reflects steady demandfor investment sales at all end of the spectrum. Huge propertiesavailable in suburban Boston are luring pension funds and otherdomestic and foreign institutional capital sources from throughoutthe world, but small and mid-sized availabilities such as 9 TechCircle are fulfilling demand from another category of buyers. Theyinclude local investors, users and 1031 Exchange funding sourceswho have become increasingly prevalent in New England during theongoing sales cycle. Tech 9 RE LLC is a Wellesley-based firmcontrolled by investor Randy Goldberg.