A fully leased industrial building on Bud Way in Nashua has changed hands for $6.8 million, marking the first Southern New Hampshire acquisition for a Boston-based investment firm that specializes in small-bay industrial properties. The 13-tenant building was sold by JP Irving LLC to SIG 4 Bud LLC, an entity affiliated with Sticks Investment Group.
According to Colliers, which represented the seller, the property at 4 Bud Way was described as a 45,650-square-foot flex industrial building, while Hunneman, which represented the buyer, listed the building at 46,869 square feet. Andrew Robbins of Colliers represented the seller in the deal, and Tyler Ewing of Hunneman represented Sticks Investment Group. Per Connect CRE, the property sits on 3.72 acres and was acquired off-market, with Ewing identifying and facilitating the deal on Hunneman's side.
The building was 100% leased to its 13 tenants at the time of sale, a detail Colliers' announcement of the transaction emphasized as central to the asset's appeal. Connect CRE's report adds that the property presented an attractive investment opportunity because of its location, tenant roster and small-bay industrial configuration. Sale terms beyond the $6.8 million price were not disclosed.
Sticks Investment Group's First Move South of the Border
The acquisition represents Sticks Investment Group's first transaction in Southern New Hampshire, according to both Hunneman's account and Connect CRE's reporting. The firm is a Boston-based real estate investment company that specializes in acquiring, owning and operating industrial properties throughout New England, with a particular focus on small-bay and light industrial assets. Andrew Kaeyer of Hunneman arranged financing for the purchase, and Jay Burns and Hunneman's property management team are set to oversee management of the asset going forward, per Connect CRE.
Why Nashua Industrial Keeps Drawing Buyers
The deal lands amid what Colliers describes as continued strength in investor demand for quality New Hampshire industrial assets, even as capital markets have grown more selective overall. The brokerage's announcement states that industrial remains the state's most sought-after asset class, and that opportunities to acquire stabilized properties of this size are increasingly limited.
Colliers attributes that investor appetite in part to vacancy across southern New Hampshire remaining near historic lows, with new construction constrained by land availability and development costs. The firm's Q2 2026 market report put the state's overall industrial vacancy rate at 6.1%, up 0.7 percentage points year over year, while the average asking industrial rent reached $11.92 per square foot on a triple-net basis, a 6.3% annual increase. That same report noted flex-space vacancy saw the most movement of any segment during the quarter, driven partly by sizable move-outs in Nashua, Manchester and Salem. Investment sales activity, Colliers added, stayed concentrated among local investors, with quality product commanding a premium.
A 2023 Zoning Application
Separately from the sale itself, a September 2023 agenda document from the City of Nashua Planning Board shows that a conditional-use permit application had been filed to amend local zoning rules and allow firearms, parts and accessories manufacturing and distribution at 4 Bud Way, Suites 19 and 20. The filing listed JP Irving LLC as the property owner and Ridgeline Defense MFG LLC as the applicant, with the site zoned AI, or Airport Industrial, according to the City of Nashua record.
