Staff report

Lockheed Martin announced on Tuesday that they will lease 16,000 square-feet of office space at Bridgeway Technology Center II in the north Suffolk Bridgeway Commerce Park.

They have signed a 5-year lease and expect to move into the building by mid-November.

This new capital investment of approximately $1.5 million provides additional office space to support project teams for the new 50,000 square-foot Lockheed Martin Global Vision Integration Center (GVIC), currently under construction across the street. This new office support center will house approximately 25 full-time employees and could have another 20 to 40 project team members visiting the facility each month.

Referencing the expansion, Mike Upson, director of GVIC Operations, said, &uot;Suffolk has been the perfect location for our new corporate facility, with easy access to nearby office support facilities of an excellent standard.&uot;

Upson added that the newly leased expansion is slated for use as, &uot;administrative offices for permanent and transient personnel as well as a laboratory support facility for the nearby GVIC.&uot;

The GVIC is on track for a scheduled opening in early 2005.

Buck Marr, Lockheed Martin’s Vice President for GVIC said, &uot;We are right on target as far as the facility and content are concerned.

We have plans to provide some additional office space to support the GVIC and could not be more pleased that our requirements have been met so readily.&uot;

Suffolk officials view the expansion as another shot in the arm for its efforts to facilitate more commercial growth in the city.

&uot;It is exciting to be involved in Lockheed Martin’s startup in Suffolk, and it’s even more rewarding to see the company’s continued growth in our City,&uot; said Suffolk Mayor Bobby L. Ralph, &uot;this new investment demonstrates their continued confidence in Suffolk, and we look forward to a long working relationship with Lockheed Martin.&uot;

Headquartered in Bethesda, Maryland, Lockheed Martin employs about 130,000 people worldwide and is principally engaged in the research, design, development, manufacture, and integration of advanced technology systems, products, and services. Lockheed Martin currently operates 124 facilities in Virginia, employing approximately 6,600 people.

Lockheed Martin worked with Continental Realty Services, Inc., developers of Bridgeway Technology Center I and II at Bridgeway Commerce Park, with this new office requirement. Bridgeway Technology Center II has approximately 25,000 square-feet of multi-tenant office space currently available within this 68,000 square-foot building, and Bridgeway Technology Center I has 60,000 square-feet available within this 125,000 square-foot building.

Don Perry, president of Continental Realty Services, Inc., commented, &uot;We are extremely pleased that our facility was able to meet the needs of Lockheed Martin.

We look forward to having Lockheed Martin as the third tenant within Bridgeway Technology Center II.&uot;