Lasertechnics, Inc.
5500 Wilshire, N.E.
Albuquerque, New Mexico

   Land
2.6551 Acres

Building
23,652 Square Feet

Lease Term
Ten Year Net Lease

     Lasertechnics, Inc., currently owns a 23,652 square foot office/manufacturing facility, located at 5500 Wilshire Avenue, N.E., Albuquerque, New Mexico. The facility is situated on 2.6551 acres of land in the highly desirable North I-25 Corridor of Albuquerque. The North I-25 Corridor is home to such companies as Philips Semiconductor, Honeywell, Motorola, Sumitomo Sitex, America On Line, CitiCorp, General Mills, Amtech and many other local, regional and international companies. Currently under construction in the immediate area is the expanded Albuquerque Balloon Fiesta Park, home of the Albuquerque International Balloon Fiesta.

   Both the State of New Mexico and the Albuquerque MSA have experienced exceptional growth in population and employment. The Albuquerque MSA has received the following rankings in job growth; Time (January 20, 1997) ranked the Albuquerque MSA 8^th in Job Growth based upon a 4.4% growth in jobs between 1994 & 1996; Forbes (October 21, 1997) ranked the Albuquerque MSA 7^th in Job Growth based upon a 26% increase in jobs from January of 1990 to July of 1996. New Mexico is the nations leader in value added by labor. The work force creates 31% more value than the U. S. Average for the same payroll dollars (New Mexico Economic Development Department). As a result of the tremendous growth in jobs, the Albuquerque economy has flourished.

    The property was developed in 1984 using industrial revenue bonds to finance the construction of the facility. The majority of the site, approximately 1.9503 acres, is improved with two structures; an office/manufacturing facility containing 19,652 square feet and a metal storage warehouse containing 4,000 square feet. The balance of the site, approximately 0.7048 acres is revenue producing through leases for an outdoor billboard and a cellular antenna.

    The main building of 19,652 square feet is divided into approximately 11,162 square feet of finished office space and approximately 8,133 square feet of laboratory and manufacturing space. The only difference in finish between the office and the balance of the building is the office area is carpeted. The warehouse building of 4,000 square feet is a prefabricated, steel skeleton frame building with prefabricated, insulated metal panels.

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Last modified: August 17, 1998