IPG buys Marlborough buildings for $6.8M

Courtesy of Transwestern RBJ 259 Cedar Hill St in Marlborough., one of two buildings purchased by Oxford-based IPG Photonics for $6.8 million.

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IPG Photonics has purchased nearly 112,000 square feet of flex space in Marlborough’s Cedar Hill Business Park for $6.79 million.

The Oxford-based fiber laser maker plans to use the identical buildings at 257 and 259 Cedar Hill St. to develop and make products, said Felix Stukalin, IPG’s senior vice president of U.S. operations. The location, directly off Exit 23C of Interstate 495, will make it easier for IPG to tap into expertise found in the Greater Boston area, he said.

“Certain valuable employees are difficult to attract to this area (Oxford),” Stukalin said.

Prospective activities for IPG at the new site include research and development, engineering and manufacturing, Stukalin said.

IPG purchased the single-story, 55,983-square-foot buildings from Investors Warranty of America, an affiliate of Iowa-based Aegon USA Realty Advisors, according to deed records. The deal closed Friday April 4.

IPG had been leasing roughly 10,000 square feet in Marlborough for similar purposes. Stukalin said he’s unsure how many people will eventually work at the new Marlborough site or when IPG will move in.

Both buildings were vacant at the time of the sale, according to Paul Johnson, vice president of Aegon. 259 Cedar Hill was previously occupied by Evergreen Solar, which declared for bankruptcy protection and ended Massachusetts operations in 2011, while 257 Cedar Hill had been home to Akibia, which relocated to Westborough and Northborough and changed its name in 2013 to Zensar Technologies.

The prolonged vacancy and an acceptable offer prompted Aegon to sell, Johnson said. Aegon bought the buildings in April 2010 for $5.5 million, according to Marlborough property records.

The buildings were constructed in 1986 and offer a combined 312 parking spaces, according to Boston-based Transwestern RBJ, which represented Aegon in the sale.

IPG employs more than 900 in Oxford and begun work on a 101,500-square-foot expansion there in 2011. IPG currently occupies nearly 325,000 square feet of space in Oxford, according to town property records.