A newly-formed explosion protection company has signed a lease for 32,400 square feet of office space in a revamped Marlborough building.
IEP Technologies agreed Nov. 4 to a seven year lease at 417 South St., according to Garrett Quinn of Parsons Commercial Group, which represented IEP. Quinn declined to provide financial details of the deal.
On Jan 2, IEP will be the first tenant to move into the roughly 148,000-square-foot building owned by Calare Properties of Hudson. Calare purchased the bank-owned building in 2011 for $1.8 million, said CEO Bill Manley, and has done upgrades to the building over the past two years.
The building was in “shell” condition, Quinn said, meaning offices, warehouses and distribution space need to be assembled before IEP can move in.
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