Colliers Brokers 80,000 SF Industrial Lease for CPS Technologies Corp. in Attleboro Headquarters Relocation
ATTLEBORO, MA — Colliers has arranged an 80,000-square-foot industrial lease for CPS Technologies Corp. at 523 Pleasant Street in Attleboro, Massachusetts, the firm announced Sept. 1, 2026. The facility will serve as the advanced materials manufacturer's new corporate headquarters, replacing its existing location in Norton and roughly doubling the company's operational footprint.
Deal Structure and Lease Terms
The lease, executed Aug. 19, 2026, runs for an initial term of 12 years and 10 months. The landlord, VMD Industrial II, LLC, agreed to a 10-month construction period through May 31, 2027, during which no base rent is owed. A subsequent six-month base-rent-free period runs from June 1 through Nov. 30, 2027, with rent commencement beginning Dec. 1, 2027.
Base rent is set at $85,000 per month for the first six months of the rent-paying term, stepping up to approximately $1.05 million annually in the following year, with 3% annual escalations thereafter. CPS Technologies is responsible for 47.2% of property operating expenses and utilities, reflecting its share of the building's total occupancy. The landlord has committed up to $3.2 million toward qualifying build-out and equipment costs, with CPS Technologies required to invest at least $1.6 million of its own capital before full reimbursement is triggered. The lease also includes two five-year extension options and a right of first offer on adjacent space within the building.
The 523 Pleasant Street property sits within the Attleboro Corporate Campus, a roughly 175,000-square-foot industrial building constructed in 1956. CPS Technologies' 80,000-square-foot lease represents approximately 46% of the building's total rentable area.
Colliers Advisors
Colliers Executive Vice President Ovar Osvold and Vice President Sean Hannigan advised CPS Technologies throughout the site selection, evaluation, and lease negotiation process.
"As CPS Technologies evaluated its future real estate needs, it was critical to find a facility that could accommodate sophisticated manufacturing operations while providing flexibility for the company's next phase of growth," Hannigan said. "Through a comprehensive search and evaluation process, we helped CPS identify a solution that supports its operational objectives, workforce requirements and long-term business strategy. 523 Pleasant Street provides the scale, infrastructure and location advantages necessary to support CPS's next phase of growth."
CPS Technologies: Tenant Profile and Business Context
CPS Technologies Corp., traded on the Nasdaq under the ticker CPSH, develops and manufactures advanced materials and engineered solutions — including metal matrix composites and thermal management components — for customers in the defense, energy infrastructure, artificial intelligence, computing, automotive, aerospace, and other technology-driven sectors. The company employs approximately 100 people and has operated its headquarters in Norton, Massachusetts.
The Attleboro facility will consolidate CPS Technologies' corporate offices, manufacturing operations, and product development functions in a single location. The company is not expected to begin occupying the space until after the construction and free-rent periods conclude, with full operations anticipated to ramp in 2027.
"Our new Attleboro headquarters represents an important investment in CPS' future, providing the space and infrastructure needed to advance our capabilities," said Dan Barton, Vice President of Operations at CPS Technologies. "We are excited to bring our corporate, manufacturing and product development functions together in a larger, more efficient environment while remaining close to our existing workforce."
Market Context: Industrial Demand in Greater Boston and Southeastern Massachusetts
The transaction reflects broader pressure on industrial occupiers across Greater Boston and southeastern Massachusetts, where demand for specialized manufacturing facilities has increased as companies seek proximity to major transportation networks and regional labor pools. Attleboro's location along the Route 495 corridor positions 523 Pleasant Street within an established industrial submarket, though the building's 1950s vintage and multi-tenant configuration distinguish it from newer Class A logistics product in the region.
The lease's starting base rent of approximately $12.75 per square foot annually — rising to roughly $13.13 per square foot with 3% annual escalations — reflects Attleboro's positioning relative to tighter, higher-cost submarkets closer to Boston, where industrial asking rents have trended into the mid-$15-per-square-foot range on a net basis. The substantial tenant improvement package and extended free-rent period underscore the capital intensity of fitting out a precision manufacturing facility compared with standard warehouse or logistics space.
Colliers noted that the transaction highlights the role of strategic tenant representation in navigating limited industrial inventory, particularly for occupiers with specialized infrastructure requirements.
Sources
Colliers — CPS Technologies Headquarters Relocation Announcement