STRATACACHE Buys More Dayton Real Estate; Now Has Five Buildings In City
July 9, 2013 by Dave Haynes
Chris Riegel is gradually becoming a Dayton, Ohio real estate baron – announcing today the purchase by STRATACACHE of twin office blocks up by the airport.
That means STRATACACHE now owns the HQ/ops office block just on the fringes of downtown, a couple of big warehouse blocks used as staging and distribution centers, and these newest buildings – which will host a new “Banking Center of Excellence,” a computer vision/interactive lab environment for enhanced customer prototype testing, and an inside sales center for complex pre-sales opportunities.
“The decision to expand our Dayton presence was a logical step in our global growth strategy, as we target the $300 million dollar revenue mark for 2015,” says CEO and founder Riegel. “Dayton is our home and we continue to build a global service delivery capability with all the advantages of a Midwestern city—a low cost of overhead allowing us to compete globally, highly talented people, and great technology and physical infrastructure.”
“With the addition of these buildings, we have the opportunity to further expand our support and operations divisions, facilitate the integration of several upcoming acquisitions, and better serve our top tier clients in the retail, QSR, financial and brand sectors.”
It helps that Dayton is an old manufacturing city with lots of building stock available for a song (the local business paper said these blocks were purchased in April for $500K), and local politicians and city managers are very happy to work with companies that are actually adding jobs. While Dayton was for many years a car town, it also has a big air force base and lots and lots of bright technical people available.
STRATACACHE employs about 120 people right now and suggests growth could add another 100 over the next three years in Dayton. The company also has offices in Japan and China (Hong Kong).
Riegel, you will notice, is not shy about laying down the kind of numbers he suggest his company is and will be doing, and there are likely very, very few companies in this space(editing out the big guys like the NCRs and Intels) doing $100M plus.