MaterialNet.com Expands Corporate Headquarters
12 April 2000
MaterialNet.com Expands Corporate Headquarters
LAKE SUCCESS, N.Y.--April 12, 2000--David Centner, president of MaterialNet.com, (www.materialnet.com), the only business-to-business e-marketplace for the buying and selling of all industrial metals, announced today it has leased 19,300 square feet of high-tech office space in the Lake Success Quadrangle, in Lake Success, N.Y. The location, at 5 Dakota Drive, is more than eight times larger than the company's original space and will serve as the company's North American corporate headquarters.
Since launching its Web site in November 1999, MaterialNet.com has grown from three employees to more than 40, and forecasts that it will have 100 employees before the end of this year. The company also has increased its Certified Supplier Network from an initial base of 47 suppliers to more than 275 suppliers today, representing more than $20 billion in revenue.
"Thanks to our lease with The We're Group, MaterialNet.com now has the space to accommodate the staff and technology infrastructure that will support our continued rapid expansion," noted Centner. "Lake Success is an aptly named location because we're proud of our achievements to date," he added. "We expect many more accomplishments and fast-paced growth."
MaterialNet.com enables metals buyers to easily access the leading suppliers of non-precious metals such as aluminum, stainless steel, nickel, titanium, carbon and alloy steel, tungsten, iron, copper and brass through the reverse auction process. Unique in its multimetals approach to the online marketplace, the company was founded May 1999 and currently focuses on original equipment manufacturers (OEMs) and the end users of primary metal products. Plans are for a phased global expansion into all raw materials.
The We're Group is a fully integrated private real-estate company, headquartered in Jericho, N.Y. We're provides leasing, management, development, construction, architectural, engineering and tenant-related services for its portfolio of more than four million square feet of commercial real estate, located primarily on Long Island, New York.