Posted 12 Dec 17 By: No comments yet

Sandia Science & Tech Park tenant set to leave

A tenant at Sandia Science & Technology Park will be leaving next year and downsizing by about 5,000 square feet.

Associate Principal Engineer Eric Austin said Moog Inc.'s Albuquerque site will be leaving the tech park – which is affiliated with Sandia National Laboratoriesand adjacent to Kirtland Air Force Base – at the end of January.

Both Moog-CSA and the Moog Advanced Space Electronics group operate out of the Albuquerque site, which provides engineering services and products to the Air Force Research Laboratory, Sandia and NASA among others.

Austin said the lease was up at its approximately 10,000-square-feet space in the tech park and said the landlord couldn't offer a good deal on the space.

But the building's broker, David Peters, told Business First that Moog hadn't requested a new lease arrangement.

Moog's new home at 1700 Louisiana Blvd. will be about 5,000 square feet. NAI Maestas & Ward's leasing agentDave Hill and Steve Kraemer are leasing the space to Moog, according to Kraemer. Austin noted Moog had too much room at Sandia Science & Technology Park because the company moved some of its operations over the years, but he said the downsize will not affect the workforce.

In 2008, the park’s program manager Jackie Kerby Moore said New York-based Moog coming to the park showed it remained a powerful magnet for high-tech industry. Despite Moog making its way out, Kerby Moore still emphasized the magnitude of the park.

“Moog has been a longstanding company in the Sandia Science & Technology Park. We wish them the best of luck in their future endeavors. Small businesses are continuously inquiring about space in the park and the vacant space will provide a new opportunity for a business to relocate there," Moore said then.

The tech park reported a total of $375.5 million in investment since 1998 in its promotional materials.

Moog, a publicly traded company with $2.4 billion in revenue in fiscal year 2016, is a designer, manufacturer and integrator of precision control components and systems for commercial and military vehicles. 

By:  Shelby Perea, Real Estate Reporter - Albuquerque Business First

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