CORFAC News

Boston, MA (January 29, 2015) – The Stubblebine Company/CORFAC International President David Stubblebine announced today that firm Principal James Stubblebine has represented IPG Photonics in the acquisition and net expansion of three buildings totaling 269,000 square feet for a total purchase price of $32,343,750 in Marlborough, MA.

One of the world's leading providers of high power fiber lasers and fiber amplifiers, IPG Photonics occupies approximately 500,000 square feet in nearby Oxford, MA, and needed the additional space to expand their operations. The fast-growing company, with a market capitalization of over $3.5 billion, was ranked by Forbes magazine as the #5 best small company in its October 2014 issue.

After a thorough examination of both office and flex space opportunities in the area, James Stubblebine represented IPG in the $25,550,000 purchase of 156,630 square feet at 377 Simarano Drive in Marlborough, then followed that with the $6,793,750 purchase of a two-building campus located at 257 and 259 Cedar Hill Street in the same city.

377 Simarano Drive, Marlborough MA. IPG immediately occupied 12,000 square feet and has plans to expand into the balance of the property as space becomes available.

257 and 259 Cedar Hill Street in Marlborough MA. IPG also bought the equipment in the building left behind by the former occupant, Evergreen Solar. IPG is currently retrofitting the facility and plans a move into the property in the second quarter of 2015.

About CORFAC International
CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. In association with global affiliates, CORFAC International offers commercial real estate services with market reach in 48 countries worldwide. Founded in 1989, CORFAC firms completed more than 10,000 lease and sales transactions totaling approximately 400 million square feet of space valued in excess of $7.4 billion in 2014. For more information on the CORFAC network, call 224.257.4400 or visit www.corfac.com.