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Building on spec in New Mexico

06.05.07

Interest in the economic boom many feel the new commercial spaceport in New Mexico will create has real estate developers making plans to build office space on speculation in the region, the Las Cruces Sun-News reports. The city of Las Cruces agreed to sell 45.4 acres of land at its West Mesa Industrial Park to developer Adam Grabois, who plans to use one parcel of that land to build a 40,000-square-foot even though the building has no announced tenants yet. “I’ve heard (Gov.) Bill Richardson talk about the potential of a spaceport here in New Mexico, and right away I thought our company would be perfect to be a part of that,” Grabois told the paper, adding that he has some ties, albeit tenuous ones, with the governor. “He and I graduated from the same university, Tufts University… He and I are also members of the same fraternity there.”