Empty acres turning into business parks
entities are hashing out a long-term lease for 100 acres along Gibson Boulevard, which is expected to be concluded in the next six months.
In July, the Air Force announced that it had retained Thunderbird Kirtland to develop a research park with office, industrial, retail and hospitality facilities.
Thunderbird consists of Albuquerque-based Yearout Companies, Dekker/Perich/Sabatini architects and IDP Development out of San Antonio, a business with expertise in enhanced use leases at military installations, said Kevin Yearout, CEO of the Yearout Companies. Thunderbird is putting together a business development plan that targets defense contractors and vendors complementing the mission sets at Kirtland, said Yearout.
Existing space
When suitable existing industrial buildings come on they market, they do get snapped up. One example is the nearly 80,000 squarefoot warehouse in the Meridian Business Park at 530 Airport Drive NW that Flagship Food Group recently announced it would occupy. The company makes frozen Mexican-style frozen entrees and salsas under the 505 Southwestern banner.
As the company grows, the new location helps Flagship meet its need for better logistics. That’s because the production plant, which Flagship opened three years ago at Desert Surf Circle NE, no longer has enough room for dry and cold storage prior to shipment via truck, said Carlos Angulo, Flagship’s chief operating officer.
He said Flagship was competing for the space with other potential tenants.
The new warehouse, near I-40, is an ideal way-station between production plant and customers, mostly chain grocers in other states, said Angulo. Tenant improvements at the warehouse will total $3 million, including a massive subzero temperature freezer — about 36,000 square feet in size.
Not only will the landlord profit from a ten-year lease, but Flagship will add 200 new manufacturing and distribution jobs company wide.
The state is provide $550,000 for Flagship’s expansion through the closing fund established by the Local Economic Development Act.