MartinLogan Ltd., a maker of high-end audio equipment, and its landlords are investing up to $1 million into projects to keep the company in Lawrence for at least the next five years.

After that, the company – whose audio speakers sell for up to $120,000 a pair, and are owned by the likes of rocker Lenny Kravitz and thousands of other less-prominent audiophiles – will be looking to build its own place, likely west of Wakarusa Drive.

“We’re committed to the community for at least another five years,” said Rafael Nevares, MartinLogan president and CEO. “We’re investing in it. We have enough space to accommodate our needs for the next five years. :

“If we stay in Lawrence, we’re building something new from the ground up.”

This month MartinLogan signed a five-year lease for one of the company’s longtime production buildings, at 2000 Del.; it is the final piece of company-associated property owned by MartinLogan co-founder Gayle Sanders, who sold his majority interest in the company late last year to ShoreView Industries Inc. and now hopes to sell the building to someone looking for an investment opportunity.

ShoreView, a private-equity firm based in Minneapolis, Minn., recently gave Nevares permission to sign five-year leases, plus options for five more years, for Sanders’ building as well as MartinLogan’s three others along Delaware Street. MartinLogan also leased a fifth building, at 2124 Del., to allow for expansion.

The fifth building, formerly home to Grandstand Sportswear, will be used as a warehouse and offices for materials management. MartinLogan takes possession this week.

In all, MartinLogan’s 58,000-square-foot complex will be getting $800,000 to $1 million in upgrades during the next 12 months, Nevares said, as sales remain on track for an increase of up to 30 percent for this year.

MartinLogan products are sold through specialty audio retailers and more than 200 Magnolia Home Theater shops in Best Buy stores.

MartinLogan and its 83 employees are secure in Lawrence, at least for five years, Nevares said. After that, the company likely will need its own, stand-alone, 80,000-square-foot building, and the top choice would be somewhere west of Wakarusa Drive.

“I’m partial to out west,” he said. “I like that part of town.”