Case Studies


New England Association of Schools & Colleges

Challenge
The New England Association of Schools & Colleges (NEASC) was looking to create a fresh, new office environment for their office headquarters in Suburban Boston.  It was unclear whether their best option was to renovate their existing space and renew their lease or pursue relocation alternatives.

Solution
NEASC hired The Stubblebine Company/CORFAC International to study renewal vs. relocation alternatives.  We conducted a thorough examination of the marketplace while simultaneously engaging an architect to propose renovation schemes for their existing location.

Results
After extensive negotiations with both their existing landlord and landlords of alternative buildings, plus running detailed financial comparisons of the cost of staying vs. relocating, the client determined that their better option was to relocate and we were able to negotiate a long term lease in a Class A office building in Burlington MA with prominent I-95 visibility, a turn-key office build-out, and a full year of free-rent concessions.

omtool

Challenge
Omtool’s lease expiration date was approaching and they hired The Stubblebine Company/CORFAC International to negotiate a lease renewal while concurrently to examine the market for alternative locations.

Solution
To discover market alternatives and to create leverage with the existing landlord, we conducted an exhaustive search of suitable available spaces in the marketplace, while simultaneously engaging Omtool’s landlord in renovation and lease renewal negotiations

Results
After receiving multiple proposals from competing landlords, Omtool made the decision to relocate their offices to Andover MA where we negotiated a long term lease in 64,000 square feet of office space.

BostonTec

Challenge
Bostontec, Inc. hired The Stubblebine Company/CORFAC International for the disposition of 93,000 square feet of industrial space on 13.4 acres in Wilmington MA.

Solution
We created an aggressive and comprehensive marketing campaign to create maximum exposure for the asset in the marketplace.

Results
After extensive marketing efforts and a numerous showings to a broad range of prospects, we procured the buyer and successfully negotiated a sale of the property for our client. 

IPG Photonics

IPG Photonics is the world's leading provider of high power fiber lasers and fiber amplifiers. It is rapidly growing and has a $3.53 billion market cap.   Forbes ranked IPG #5 best small company in its October 2014 issue.

Challenge
IPG was seeking to expand their space beyond their existing 500,000 square feet in Oxford MA.   It was looking to secure both quality lab space and secure a corporate headquarter building.  Of primary concern was to locate the properties in an area close to major highways and in an area that could attract talented engineers.

Solution
IPG hired James Stubblebine, principal of The Stubblebine Company/CORFAC International to source space opportunities in the greater Marlborough Massachusetts area.  We conducted a thorough examination of both office and flex space opportunities in the area and were successful in negotiating the purchase of 269,000 square feet in three buildings for an aggregate total purchase price of $32,343,750.  Further detail of IPG Photonics’ expansion is outlined below.

Results
The Stubblebine Company/ CORFAC Int’l represented IPG in the $25,550,000 purchase of 156,630 square feet at 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.

Simarano Drive, Marlborough MA, Stubblebine Commercial Real Estate

The Stubblebine Company/ CORFAC Int’l represented IPG in the $6,793,750 ($60.21/ sq. ft.) purchase of a two-building campus located at 257 and 259 Cedar Hill St., in Marlborough MA.  IPG also bought the equipment in the building left behind by bankrupt Evergreen Solar.  IPG is currently retrofitting the facility and plans a move into the property in the second quarter of 2015.

257 and 259 Cedar Hill St., in Marlborough MA, Stubblebine commercial real estate services

Contact


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Fax (781) 862-6212.

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