New Mexico State University’s Arrowhead Center has entered into a development agreement with Albuquerque-based RIO Real Estate Investment Opportunities LLC to provide finance, development and construction services for Arrowhead Park, its planned innovation community providing land, space, services and connections to NMSU for existing and startup companies.
“Arrowhead is pleased to partner with a New Mexico company that brings a strong history of industrial and office development throughout New Mexico, but also provides integrated design, engineering and brokerage services,” said Wayne Savage, executive director of Arrowhead Park.
RIO’s first Arrowhead Center project, still in the early planning stages, will be a new 40,000-square-foot Innovation Center that will be a flagship facility for all of Arrowhead’s innovation and entrepreneurship programs for students, faculty and private sector companies and startups. Design will begin later this summer, with groundbreaking scheduled before the end of the year.
Arrowhead Park is located on approximately 175 acres at the southern end of New Mexico State University, near the intersection of Interstates 10 and 25.
“We are excited to be part of a unique opportunity to partner with Arrowhead Center and to help with economic development opportunities and job growth for the area,” said Robin Dyche, managing member at RIO. “RIO’s goal is to work with Arrowhead Center to develop the park as the premier regional community for science and technology.”
Arrowhead Park will be conducting a master development and land use planning effort over the next six months to guide future development of building and park infrastructure. This agreement comes about as a result of a competitive Request for Qualifications procurement seeking a new partner for approximately 120,000 square feet of development over the next three years.
For more information about Arrowhead Park, visit arrowheadcenter.nmsu.edu/blog/resources/arrowhead-park. For more information about Rio Real Estate Investment Opportunities, visit rio-re.com.
Information from NMSU