Building on spec in New Mexico

Interest in the economic boom many feel the new commercial spaceport in New Mexico will create has real estate developers making plans to build office space on speculation in the region, the Las Cruces Sun-News reports. The city of Las Cruces agreed to sell 45.4 acres of land at its West Mesa Industrial Park to developer Adam Grabois, who plans to use one parcel of that land to build a 40,000-square-foot even though the building has no announced tenants yet. “I’ve heard (Gov.) Bill Richardson talk about the potential of a spaceport here in New Mexico, and right away I thought our company would be perfect to be a part of that,” Grabois told the paper, adding that he has some ties, albeit tenuous ones, with the governor. “He and I graduated from the same university, Tufts University… He and I are also members of the same fraternity there.”

2 comments to Building on spec in New Mexico

  • Building on spec in New Mexico…

    The new spaceport in Las Crucus, NM may be starting a land rush among developers hoping to cash in….

  • Jeff, thanks for the post. Let me clarify: Grabois Development is not building office space, but industrial warehouses in the West Mesa Industrial Park of Las Cruces. My company is purchasing approx. 45 acres, and we are developing 1 million square feet of GLA. Tenants will be from a cross-section of industries primarily Aerospace related. Further, at no point did I speak directly with the paper–they paraphrased from the Las Cruces city council meeting. We have tremendous confidence in the future of Las Cruces, the spaceport is only one aspect of our decision to invest in the region. As far as Governor Richardson goes, all I said was that we shared a credential. Although, I did have the privilege of making his acquaintance on the Tufts University Campus at the Beta Mu chapter of the Delta Tau Delta Fraternity; that was in 1999 when he was US Secretary of Energy. Thanks again.
    ~ Adam Grabois

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