WORCESTER BUSINESS JOURNAL – Oxford laser manufacturer IPG Photonics has purchased a 107,000-square-foot Marlborough building for $21 million.
The building has primarily served as a multi-tenant office building and is almost fully leased. Only about 3,500 square feet of space is available, according to Scott Hughes of real estate firm New Dover Associates.
IPG Photonics plans to eventually occupy the entire space, Hughes said.
A company spokesman did not return a request for comment.
The company has embarked on an aggressive expansion strategy since 2016 including the acquisition of seven properties in Oxford and Marlborough for a combined $75.5 million.
The company is investing $70 million to expand its Oxford headquarters by 170,000 square feet and build a 460,000-square-foot parking garage.
Last June, the company purchased the nearby Technetics facility for $26 million as that company ceased its operations in Oxford.
In its annual report earlier this month, IPG Photonics said it is planning 800,000-square-feet of global expansions in 2019.
This article by Zachary Comeau originally appeared here.