The BAE Systems and Peraton companies are extending their lease agreements for buildings at Griffiss park.
Plans for the extensions were discussed Thursday at the Griffiss Local Development Corp (GLDC) Board of Directors meeting. GLDC is the landlord.
The leases for BAE, “our largest tenant,” and Peraton were “both coming due at the end of the federal fiscal year,” said Fred Arcuri, Mohawk Valley EDGE senior vice president of planning and development and the GLDC secretary.
Among the agreement terms:
• BAE, for its Griffiss leases including 454 and 581 Phoenix Drive, will “extend all for three years,” Arcuri said. There will be an increase in rent for one site, while the other will stay at a flat rate, he added. BAE has 20,902 square feet at 454 Phoenix Drive, and 12,518 square feet at 581 Phoenix Drive, according to GLDC.
“We are lucky to have all...for another three years,” Arcuri commented. It is “good news.”
BAE, whose U.S. base is in Arlington, Va., is an international defense, aerospace and security company whose specialties include advanced electronics, security, and information technology solutions and customer support services.
Further information on the company’s Griffiss lease terms and its local employment totals was not immediately available.
BAE began at the business park in 1997 and had operated under various names, according to GLDC.
• Peraton will have a 5-year extension with an increase of 3 percent from the current rent, said Arcuri. It has 28,091 square feet at 474 Phoenix Drive, according to GLDC.
GLDC is to conduct some work at the company’s facility involving landscaping and new carpeting in selected areas among the steps, Arcuri remarked.
Once the extension is signed, “we’ll do the work,” Arcuri added.
Peraton, based in Herndon, Va., is a provider of cyber/signals intelligence, defense, electronic warfare, homeland security, and secure communications capabilities. It works with the intelligence community, Department of Defense, and select federal agencies and commercial entities.
Further information on Peraton’s lease at Griffiss and its local employment totals was not immediately available.
Peraton has been at Griffiss since 2002, operating under various previous names, according to GLDC.
Including a pending new lease agreement with Alion Science and Technology company, Arcuri said available GLDC facilities are at 98.5 percent occupancy. it is a “good place to be...good news,” he observed.