September 3, 2010

Long Time Cape Cod Manufacturer Plans Relocation

sapphire

If all goes according to plan, Sapphire Engineering, Inc. will be relocating operations from Bourne to Middleborough, MA.

Sapphire Engineering, Inc., a subsidiary of IDEX Corporation, is a U.S. health and science manufacturer of custom precision analytical and diagnostic components for original equipment manufacturers.

The firm is now located in a leased facility which it has been occupying for many years. This 38,100 square foot flex facility built in 1978, is located just west of MacArthur Blvd. at 53 Portside Drive in Pocasset, MA (pictured above).

The Company, however, has outgrown existing facilities in Pocasset and Hopedale, MA and is seeking to relocate and consolidate its operations in a central facility. Sapphire Engineering, Inc. plans to retain all 170 full-time manufacturing jobs from the two Massachusetts facilities. The move is also slated to create 15 new permanent full-time jobs.

Under the relocation and consolidation measure, the business plans to invest a total of $11.8 million in the Town of Middleborough. This figure includes construction costs associated with the interior build out, clean room space, new machinery and equipment, and projected future investments estimated at $3.5 million.

The proposed facility will be located within Campanelli Business Park of Middleborough, a modern park located off of I-495. Major tenants currently in the park include Christmas Tree Shops (530,000SF), NES Clothing Co. (275,000SF), Serta Mattress Co. (150,000SF).

Although Sapphire Engineering will initially lease approximately 80,000 square feet of manufacturing space, the occupancy includes the option to add 20,000 square feet of expansion space. Construction of the proposed building is scheduled to begin this Spring.

An incentive for making the relocation is a Tax Increment Financing (TIF) component, a feature of the Massachusetts Economic Development Incentive Program (EDIP). The TIF was widely approved at Middleborough Special Town Meeting in October 2008.

Like any good and supporting member of the community, Sapphire Engineering, Inc. will be missed.

About Joseph P Egan
Joseph P. Egan is a MA Certified General Real Estate Appraiser with over 25 years of professional valuation experience. Through a specialization in commercial real estate and closely-held businesses, since 1991 he has completed over 600 appraisal, brokerage and consulting assignments concerning all types of commercial real estate assets and going concerns located on Cape Cod, Nantucket, and Plymouth County, MA. Clients served generally include attorneys, banks, corporations, developers, investors, and owners of closely-held and family businesses. Prior to relocating to Cape Cod, Joe worked in the New York Metro Area and throughout CT with leading regional and national appraisal firms such as Cushman & Wakefield.

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