Prime Therapeutics excited by new digs
Smaller workspace offers enhanced training facilities
The staff members of pharmacy benefit processing center may have downsized to new quarters in Albuquerque, but the new location is described as prime.
Their company, Prime Therapeutics, which has occupied nearly 70,000 square feet on the West Side for nearly a decade, is now doing business at The 25 Way business complex.
The company’s lease, which ended in late June at 4580 Paradise NW in Albuquerque, prompted the relocation, said Brian Holmes, Prime Therapeutics’ vice president for real estate and facilities operations for the Minnesota-based company. “We evaluated our future needs, current office trends and options within Albuquerque to identify our new location at 4411 The 25 Way, Suite 200. We are excited about our new space and continued operations in Albuquerque.”
When the company opened a decade ago, it said it would be hiring pharmacists and pharmacy technicians to help process prescriptions by mail order.
Prime Therapeutics employs 3,800 people nationally, with approximately 145 employees based in Albuquerque.
The new workspace totals 25,000 square feet.
“Our workforce in Albuquerque remains steady, and this new facility offers enhanced training facilities and technology which can support the necessary training sessions for our employees,” Holmes said.
As one of the largest pharmacy benefit managers in the U.S., Prime serves 17 Blue Cross Blue Shield plans, including Blue Cross Blue Shield of New Mexico, working as a negotiator between drug producers or pharmacies and those who need the medications, such as insurers and self-insured companies. Its 2016 revenue was approximately $5 billion.
The Medicaid managed care division of Blue Cross Blue Shield of New Mexico is also headquartered nearby at The 25 Way, a 234,237-square-foot business complex at the northwest corner of the Jefferson NE and Interstate 25 interchange.
The Paradise property is now on the market for nearly $5 million, according to commercial real estate site LoopNet. The location is described as an “excellent opportunity for an owner/user or tenant seeking a well-located office/flex facility on the fast growing West Side. The property was originally constructed in 1981 as a build-to-suit for the J.C. Penney Company.”
Located on a 5.5-acre parcel at Eagle Ranch Road and Paradise NW, the building also comes with 335 parking spaces and an eat-in cafeteria.