MARLBOROUGH, MA-Less than a year after breaking ground on a manufacturing facility in Germany, Evergreen Solar Inc. is taking their expansion local. The manufacturer of solar-powered panels and other solar products expanded its operations by 40,452 sf under a seven-year lease. It moves the company into a building next to its current facility.
"It's all part of their growth initiative and expansion," Mitchell Jacoby, with Cresa Partners' Boston office tells GlobeSt.com. The expansion gives Evergreen Solar about 80% of the 56,250-sf building at 257 Cedar Hill Rd. The firm will share the single-story flex building with Benco Dental Co.
Terms of Evergreen Solar's lease were not disclosed but Jacoby said similar space in the Marlborough area leases for around $8 per sf, triple net. Jacoby handled the lease negotiations for the tenant. The owner, New York City-based Everest Partners, was self represented by Denise Geroir.
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