Shirley-based manufacturer to open Devens office, R&D space after $720K purchase
Image | Courtesy of MassDevelopment
TPE Solutions is planning a facility in Devens.
Shirley-based manufacturer TPE Solutions is planning to open a 31,000-square-foot office, distribution and research & development space in Devens.
Jonas & Elaine Realty, an affiliate of TPE, purchased the 6.73-acre vacant property for $720,000 on Dec. 18 from the Massachusetts Development Finance Agency, according to Worcester District Registry of Deeds records.
“MassDevelopment is glad to welcome TPE Solutions Inc. to Devens on a parcel that can support the company’s plans to expand here in North Central Massachusetts,” Navjeet Bal, MassDevelopment president and CEO, said in a Monday press release announcing the facility. “The sale of 33 Lake George St. for commercial use furthers our mission to redevelop Devens from a former U.S. Army base into an attractive place to live, work, and grow a business.”
The firm is planning to construct the space to meet growing demand and the needs of its clients.
“We're thrilled to be expanding our operation to Devens and look forward to becoming a part of this exciting community filled with innovative business leaders,” Jonas Angus, TPE Solutions president, said in the release.
TPE is a manufacturer of thermoplastic elastomer compounds, materials made of a mix of thermoplastics and rubber which are used in automobile parts, hoses, and a wide variety of other products, according to ScienceDirect.com.
Construction of the facility is slated to begin in late 2026, with completion expected in 2027.
When finished, TPE will join a number of other companies in the 4,400-acre mixed-use community in Devens, including New York-based pharmaceutical firm Bristol Myers Squibb, New England Studios production studio, and Commonwealth Fusion Systems, a company working to open the first commercially-viable fusion energy plant.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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