Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
The purchase of a second office condo for expansion, adjacent to their current home, will give Bard Advertising’s nine employees what they all said they missed: private office space.
“It’s a little different from many companies, who went to the open environment,” says Barb Stabno, owner. That included her existing company space, which had an open plan without private offices.
“You know what? People want privacy. You don’t want to hear when the next person is making their doctor appointment.”
Stabno purchased an office condo with just under 2,000 square feet four years ago, and now purchased the adjacent condo for $155,000. When completed this fall the firm will have 3,000 square feet and enough room to invite clients in to view proposals. She’ll also have room for four new people, which she plans to hire by the end of the year. “I’m trying to make it an oasis,” she says. “We’re putting a lot of detail into making it our secondary home.”
She pays association fees around $700 a month, and the property manager hired by the association takes care of snow shoveling, maintenance, and so on. The building is at Hwy. 169 and Lincoln Drive in Edina.
She’s a fan of real estate ownership for small businesses. “It’s wonderful for us because we become the keeper of our own keys,” she says. “This is an investment that I want to make so the company always has a place to hang its hat.”
She owns real estate for personal reasons, too: “It melts into my investment strategy.”
The build-out should be completed by this fall.
Barb Stabno, Bard Advertising: 952.345.8000;**@*****dv.com“> ba**@*****dv.com; www.bardadvertising.com
