Spectral Systems, Inc., to Preserve Growth Path with Move to New Building at The Acropolis

BEAVERCREEK, Ohio, February 1, 2005. Spectral Systems, Inc. (SSI), a highly technical, leading-edge aerospace engineering and product development company, has signed a long-term lease with Mills-Morgan Development for space in a 63,000 square foot building that is expandable to 90,000+ sq. ft. Spectral Systems will occupy the ninth building constructed at The Acropolis at Fairfield Commons. This new building will enable SSI to continue its growth path and meet the needs of its Department of Defense related contracts. The new building, designed by Oakwood architect Kenneth J. Seidl and built by Synergy Building Systems, will be ready for SSI’s occupancy this summer.

SSI was founded in 1995 and has rapidly become a leading developer and integrator of advanced, state-of-the-art Intelligence, Surveillance and Reconnaissance and Electronic Warfare systems, sensors and embedded processors for Department of Defense customers. SSI is a wholly owned subsidiary of Sierra Nevada Corporation (SNC). SNC is a privately-held, woman-owned business headquartered in Sparks, Nevada, specializing in Defense electronics systems.

“We are very excited about our new facility at The Acropolis,” said Terry Venema, SSI Director of Operations, “We can’t get there soon enough. As a result of highly successful technical accomplishments the last couple years, part of our strategic roadmap is coming to fruition much more rapidly than expected. These successes have enabled us to expand our customer and platform base with new applications of our core technologies to meet additional unique and demanding requirements. The new facility will allow us to greatly enhance our testing facilities and internal research and development efforts, and allow for future growth, while controlling costs. The combination of the close proximity to Wright Patterson AFB and the structured, “research park” environment that houses other Defense contractors such as General Dynamics and Riverside Research Institute, will certainly complement our efforts.”

“SSI is one of the premier providers of digital RF systems. Our innovation, expansion, and core competencies, especially technical, are fueled and sustained by our ability to attract and retain an expert and experienced engineering, program management and business staff,” Terry continued. “We are looking to hire an additional 25-30 people this year, including electrical, software, and test engineers and program control analysts. The Acropolis is a great recruiting tool. Prior to this upcoming move, SSI has either moved or expanded every summer. With Mills-Morgan’s and our strategic approach and foresight for future expansion, our growing pains are going to be minimized.”

“Mills-Morgan did a spectacular job putting together a complete package that made this move doable,” Terry added. “The aggressive, professional approach of Bob Mills was clearly recognized by our management team and by The Staubach Company, a national real estate advisory firm we retained to evaluate many sites and proposals. We evaluated both the tangible aspects, such as cost and schedule, as well as the intangible like quality, location, and neighbors. The Acropolis was our choice. A key factor was The Acropolis being a “shovel ready” site; zoned, improved and ready for a building; an important aspect in meeting our demanding summer schedule. Mills-Morgan’s commitment to quality and excellence, along with Bob Mills’ hands-on approach was clearly evident to us. We felt dealing with the owner really shortened the decision / process time and he has a proven track record of success -- he gets things done.”

“The addition of Spectral Systems nicely compliments the high quality of tenants and companies that have already chosen to locate their businesses at The Acropolis. We have enjoyed watching The Acropolis rapidly grow from an upscale suburban office setting, to a premier regional center known for research, technology and professional development. I would also like to extend a special thanks to the following community leaders who helped out in this endeavor: State Representative Dave Hobson, Greene County Commissioner Ralph Harper, and J.P. Nauseef of The Dayton Development Coalition. This endeavor represents over an $8 million dollar real estate investment and a long-term commitment for the greater Miami Valley.”

Mills-Morgan Development is a real estate development company owned by Bob Mills and Sam Morgan. Mills is also the owner of Synergy Building Systems, Synergy Development and managing partner of many real estate investments. They specialize in multi-building developments in campus-like settings that emphasize on stylish buildings and park-like green space. Most projects offer ownership or traditional leasing options. Recent projects developed by Mills include The Acropolis in Beavercreek, The Pavilions in Washington Township, Creekside Commons in Centerville and five buildings at Governor’s Place in Kettering. New projects include The Cornerstone Medical Center in Washington Township, The Beavercreek Medical Center and The Stahl Vision Center in Beavercreek, and The Camden Professional Center in Dublin, Ohio.

For more information, contact Mills-Morgan Development, 2689 Commons Blvd., Suite 30, Beavercreek, OH, 45431. Phone (937) 429-3143, fax (937) 429-2055.

Sierra Nevada Corporation (SNC) headquartered in Sparks, Nevada, is a fast growing innovative and agile technology solutions corporation focusing on system integration electronics engineering; manufacturing; and aircraft modification. Our current focus is to specialize in the integration; design; development; installation; and servicing of complex airborne, ground, and ship-based systems for the U.S. Government, its prime contractors, and international customers.

SNC is a privately-held, woman owned business with a strong, stable and debt-free financial foundation that provides flexible low-risk and strong financial performance for our customers. We have invested heavily over the years in experienced people, modern facilities, and the state-of-the-art equipment needed to enhance our capabilities, development efforts to our customer’s technical advantage. SNC has over 1000 employees with 24 locations in 15 states across the United States.

SNC Enterprise Business Areas:
ISR - Intelligence, Surveillance and Reconnaissance
CNS/ATM - Communication, Navigation, Surveillance & Air Traffic Mgmt
C4N - Command, Control, Communications, Computers and Networks
EW/RI - Electronic Warfare / Range Instrumentation
SST - System Sensors and Technology
IMS - Integrated Mission Systems