Satellite company Theia Group, which is vying to launch a network of satellites that will monitor the Earth, leased space formerly occupied by defense giant Raytheon Co. Through subsidiary Group Orion, Theia Group hopes to eventually bring to reality what will be called the Orion Center, a huge development in Albuquerque where satellites would be assembled and tested.
The Orion Center is not a done deal as the project needs further approval before it can move forward. But the company's lease of a property at 10800 Gibson Blvd. SE represents a multiyear commitment to establishing a local presence.
The 72,000-square-foot industrial and research and development space is for sale and entirely leased by Theia Group, according to California-based Lee & Associates Commercial Real Estate Services. Ross Sanzari, an associate at Lee & Associates and one of the listed brokers on the ad, said he was representing Bulbul Albuquerque LLC, the owner of the building. The lease spans 10 years and expires in March 2031, according to a Lee & Associates sales brochure.
Theia Group also took possession of 103,000 square feet of space between two buildings on Eubank Boulevard SE and Development Road in March, confirmed owner Scott Throckmorton, who said a long-term lease was signed last summer. The space is suited to manufacturing or research and development, he said.
The three properties were previously occupied by Raytheon. Business First reported in May that the company was relocating Albuquerque operations to other sites.
The leased space could allow Theia Group to build its local presence as it moves toward the construction and eventual opening of the Orion Center. The development's first phase is estimated to be about 4.1 million square feet, according to Jonathan Small, a spokesman for the Albuquerque International Sunport. The campus would have manufacturing operations, laboratories, a hotel and amenities, according to a November notification of decision from the city's Planning Department. Some phases of construction could be completed by late 2023, according to the city.
The development would be massive in both scale and expense. One research report from real estate firm Colliers International says the construction costs for the project are estimated to be between $8 billion and $10 billion throughout a decade — dozens of times more than the construction cost of the $218 million Spaceport America facility in New Mexico. And at more than 4 million square feet, the Orion Center would be larger than One World Trade Center in New York City. Theia Group Vice President James Reid Gorman previously said in a statement the development will be "one of the largest construction projects in the United States."
Before the Orion Center is finalized, a lease agreement with the city for its Aviation Center of Excellence, a plot of land that sits adjacent to the Sunport where the development would be built, must be approved. The city's Development Review Board is also combing over the project. A site plan, site infrastructure list and plat will be submitted in April, with a DRB review later this month, according to Small.
Despite the pending approvals, Theia Group has already began hiring for tech positions in Albuquerque. As of March, the company had openings that appeared on job boards, including those for a spacecraft systems engineer and software operations lead. Gorman previously said the assembly facility at the Orion Center would need "at least" 1,000 workers, shedding light on an effort to build a sizable workforce here.
If it came to fruition, the Orion Center could represent a significant boost to New Mexico's space economy, which includes firms such as Virgin Galactic and LoadPath. In a November statement, Albuquerque Mayor Tim Keller said the Orion Center "has the potential to be a game-changing partnership for our city’s aerospace and tech sector."
"This development could be a massive job creator for our city, providing a boost to our economy and securing our role in the booming space industry," he added.
— Editor's note: This story has been updated to clarify details about the first phase of the proposed Orion Center provided to Business First from a city of Albuquerque spokesperson.
