Commercial Real Estate News

AngioDynamics' new HQ to open next week

Mar 24, 2010 - Albany Business Review

AngioDynamics Inc., a manufacturer of medical devices, will formally open its new headquarters in Latham, N.Y., next week.

This month, AngioDynamics (Nasdaq: ANGO) has been moving employees from its former Queensbury headquarters into a new, 52,500-square-foot space in Latham. A grand opening will be held at 10:30 a.m. on March 29.

Sixty-five workers, or roughly a fifth of AngioDynamics’ area work force, have moved into the new offices.

Corporate executives, including President and CEO Jan Keltjens, have moved into the headquarters. Other departments that will relocate include marketing, business development and advanced R&D work.

The move will free up space at AngioDynamics’ former headquarters in Queensbury to expand manufacturing operations and distribution services. The company develops and produces medical devices for the oncology, radiology and vascular surgery fields.

AngioDynamics is leasing the office space from First Columbia LLC. The building is in First Columbia’s business park nestled near the Northway, north of Exit 6.

AngioDynamics’ space can fit up to 150 workers.

AngioDynamics has a 10-year lease with two, five-year renewal options, according to regulatory filings.

The company will pay $857,321 in annual rent for the first five years, according to regulatory filings. Annual rent for the second half of the base 10-year lease will increase by 10 percent, to $943,000.


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