CPI Aerostructures Inc., of Heartland Boulevard in Edgewood, is moving across the street.
And the new site has triple the floor space of its current location.
The company, now at 60 Heartland, said Friday it has signed an 11-year lease for 91 Heartland, with the start date Friday, Edward J. Fred, CPI Aero’s president and chief executive, said.
"The approximate[ly] 171,000 square foot building will be used as the company’s assembly facility, principal offices and corporate headquarters."
CPI will move all its operations out of its current space by Dec. 31. It has a lease on the new space through 2022.
"Our planned move into premises that are nearly three times the size of our current location is indicative of our expectations for continued growth in orders, customers, programs and of course revenue and profits over the coming years," Fred said.
"Since the landlord of both properties is the same, our old lease has been amended and we no longer pay rent at the 60 Heartland Boulevard location, although we have use of it through year end as well as of the new location immediately. We were able to negotiate attractive rental terms for the new location and we are pleased that it will cause no dislocation to our employees.”
Photo shows CPI-built structural housing for airborne-laser mine-detection systems.