The facility will include a new customer care center and an expanded application lab and training center as well as a purpose built manufacturing facility. It will also feature a complete calibration center which will house a primary standard dead-weight stack for calibrating force transducers up to 250,000 pounds. The company anticipates moving in April 2005.
The building was acquired last year by CFRI University Avenue, a joint venture of Cabot, Cabot & Forbes and Wilton, CT-based Commonfund Realty Inc. The building was formerly occupied by Jet Spray Corp., but has been vacant reportedly for nearly a year.
Steve Martindale, senior vice president and chief financial officer for Instron, says that, "By being able to renovate and customize the new location, we have the opportunity to create a new, state-of-the-art headquarters." The new location's proximity to the company's current facility was part of its appeal, notes Martindale, so that disruption to the current workforce is minimized.
According Richards Barry Joyce & Partners 2004 Mid Year Review & Forecast, the Route 128 South submarket currently has 15.5% vacancy. The average asking rent for office space in the area is approximately $18 per sf.
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