Devens Welcomes TPE Solutions Inc.
Company Specializing in Thermoplastic Elastomer Solutions Buys Parcel at 33 Lake George St. with Plans to Build 31,000-Square-Foot Facility Featuring Office, Distribution & R&D Space
February 03, 2025
Kelsey Schiller, 857-325-3477
kschiller@massdevelopment.com
Beth Stagnone, 978-425-3033
beth.stagnone@tpesinc.com
DEVENS – MassDevelopment has sold a vacant 6.73-acre parcel at 33 Lake George St. in Devens to Jonas & Elaine Realty, LLC, an affiliate of TPE Solutions Inc. The Shirley-based company, which specializes in thermoplastic elastomer (TPE) solutions, will build a 31,000-square-foot facility on the site featuring office, distribution, and research and development space. The new facility will help TPE Solutions Inc. expand to meet the needs of its clients. Construction of the facility is expected to begin in late 2026 and be complete in 2027.
“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,” said MassDevelopment President and CEO Navjeet Bal. “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.”
TPE Solutions Inc. opened in Shirley in 2004 with the objective to provide specialty solutions for unique applications and challenges. With a wide network of suppliers and manufacturing partners, TPE Solutions Inc. is able to cater to almost any customer need, with its core competencies being in thermoplastic elastomer custom formulations and designs, conductive compounds with Surface Resistivity Range of 102 to 104 ohms/sq, and ESD compounds with Surface Resistivity Range of 104 to 1012 ohms/sq. The company’s process begins by analyzing the end-use characteristics of its customer’s product and manufacturing processes. Once TPE Solutions Inc. fully understands the requirements of the application, the company identifies suitable material solutions, whether an off-the-shelf chemistry, an alloy, or a custom-engineered compound. Additionally, TPE Solutions Inc. provides technical support to help customers incorporate the thermoplastic compound into their production processes. The company’s driving focus is to find solutions to any type of challenge that its customers may face. With a foundation of over 40 years of experience, knowledge, accountability, and dependability, TPE Solutions Inc. strives to help its customers succeed where they may have struggled in the past.
“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,” said TPE Solutions Inc. President Jonas Angus.
Located in north central Massachusetts, Devens is a 4,400-acre mixed-use community and an award-winning model for military base reuse. After serving as the U.S. Army’s New England headquarters for 79 years, Fort Devens was closed in 1996. Since then, MassDevelopment has worked to transform this site into a sustainable and thriving mixed-use community, providing municipal services, education, environmental protection, and infrastructure improvements to support continued redevelopment and job creation. Today, Devens is home to more than 950 residents and 100 businesses, nonprofits, and government organizations that employ approximately 10,000 workers.
MassDevelopment, the state’s development finance agency and land bank, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth. During FY2024, MassDevelopment financed or managed 349 projects generating investment of more than $3.5 billion in the Massachusetts economy. These projects are estimated to create or support 22,426 jobs and build or preserve 1,754 housing units.