Defense contracting giant Lockheed Martin Corp. has expanded its offices near the Colorado Springs Airport by about a third, taking over space that Computer Science Corp. gave up as the technology company reduced its local footprint, according to the real estate agency that handled the transaction.
Lockheed boosted its space in the Platte Airpark Center, 320-480 Wooten Road, to 48,102 square feet from 35,669 square feet, while Computer Science Corp. moved to about 5,000 square feet in the same building, according to a news release from CBRE Inc., which handled both transactions for building owner Fairbridge Properties of Princeton, N.J.
Martin Johnson and Jared May of CBRE represented Fairbridge in the transaction, while Duncan Heitman and Tom Lepry of Jones Lang LaSalle Inc. represented Lockheed Martin.
Fairbridge bought the 137,900-square-foot complex, which was built in 2001-02, in January 2014 for $14.35 million, according to El Paso County Assessor's Office records. The building, which is now 95 percent occupied, also houses offices for Boeing Co. and L-3 Communications.
Lockheed is the largest defense contractor in Colorado Springs, employing about 2,000 people developing specialized software or building sophisticated computer networks and systems, both designed to manage information for military commanders to control personnel and weapon systems.
The company's largest local program - the Command, Control, Battle Management and Communications System contract - was first awarded in 2002 and is valued at $2 billion since then.
Under the contract, Lockheed integrates all elements of the Ballistic Missile Defense System for the Missile Defense Agency, including early-warning, mid-course and sea-based radar as well as space-based tracking and surveillance systems with missile defense systems.
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