Angio shows off new HQ
Mar 29, 2010 - Albany Business Review
AngioDynamics Inc. unveiled its new corporate headquarters in Latham on Monday, the latest sign of the company’s growth.
AngioDynamics (Nasdaq: ANGO) finished moving employees to Latham last week from the former company headquarters in Queensbury. AngioDynamics has 70 employees in the 52,500-square-foot Latham headquarters, leaving 285 employees in Queensbury.
The move, which was announced in May 2009, frees up 20,000 square feet of space in Queensbury to expand manufacturing and distribution. President and CEO Jan Keltjens said AngioDynamics will be hiring people at both sites.
“This is the perfect location,” Keltjens said at a ceremonial ribbon-cutting on Monday. “Conditions are tough now in many ways. But this is the right moment for strong companies like us to get stronger.”
AngioDynamics develops and produces medical devices for the oncology, radiology and vascular surgery fields.
The new location will help AngioDynamics better tap into the expertise at nearby colleges and universities that are an hour’s drive from the Queensbury site. The more central location will also enable AngioDynamics to host educational programs involving physicians at St. Peter’s Hospital and Albany Medical Center, two of the company’s largest area clients.
In addition, the headquarters will provide easier access to Albany International Airport. Keltjens alone takes between 50 to 100 flights a year, racking up roughly 500,000 air miles.
Corporate executives, Keltjens, have moved into the headquarters. Other departments that relocated include marketing, business development and advanced R&D work.
AngioDynamics is leasing the office space from First Columbia LLC. It is the only tenant in the building, which is in First Columbia’s business park nestled near the Northway, north of Exit 6.
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.
AngioDynamics is trying to have the building receive silver LEED certification from the U.S. Green Building Council.
AngioDynamics is releasing its third-quarter earnings on March 31.