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A defense contractor in Riverside is expanding in one of the city-owned Wright Point buildings — a move that will create new jobs and fill about 1,000 square feet more of office space.
P E Systems is moving from the fifth floor to the fourth floor of 5100 Springfield Street after recently signing a new seven-year lease with Riverside, which financed the purchase of the two Wright Point office buildings last June for $2.6 million.
The company is expanding from 6,000 to a little more than 7,000 square feet, and the city is investing $100,000 in upgrades to the fourth-floor space. P E Systems — occupants in the Wright Point building since 1995 — could move into the new space as early as Nov. 1.
“This is a major deal,” said Bob Murray, Riverside’s director of planning and economic development. “They’re extremely important to us because of their position in the defense community, and keeping them in Riverside was the main goal.”
P E Systems — which is headquartered in Fairfax, Va. — has 115 employees here, with most of them working at Wright-Patterson Air Force Base, according to Kathy Anderson, senior vice president at P E Systems.
Anderson said she anticipates a 10 to 20 percent growth in the staff due to the expansion. The salary range is between $80,000 and $100,000 a year.
“We look at this as a rebirth of the environment here, and with the city’s plan for expansion and growth, we thought this was a great place to stay,” Anderson said.
P E Systems’ new space will include 17 offices, two conference rooms and other amenities that will provide a “good office flow to it,” Anderson said. The construction work also will include general upgrades, such as painting and carpeting, Murray said.
The two Wright Point buildings are located at 5100 and 5200 Springfield Street, and feature a combined total of about 168,000 square feet.
The occupancy rate of the two buildings is about 50 percent, city officials have said. The average occupancy length of the tenants is 22 years.
“We’re seeing an increased interest in the buildings,” Murray said.
When the city purchased the Wright Point buildings, it projected to collect $300,000 annually in profit. In the first six months of ownership, the city generated $295,230 in profit, City Manager Bryan Chodkowski said last month.
The city expects to select a company to manage the Wright Point buildings sometime next month, Murray said. Riverside is currently on a month-to-month lease with Crest Commercial for about $20,000 a month.
Riverside also is exploring the option of relocating City Hall from 1791 Harshman Road to 10,000 square feet on the first floor of 5200 Springfield Street. The relocation could be complete by the end of 2015.
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