Many times, finding room for company growth is a literal process, as
Parallel Technologies recently discovered.
The technology company tripled its office size in a move from St. Louis Park to Eden Prairie, giving employees more space; about 25 were hired within the past eight months. The move also provides the company with the ability to create a more intelligent, efficient space, according to Parallel CEO Dale Klein.
He notes that the move allowed Parallel to implement green-type technologies such as software-based LED and sensor lighting networks that monitor temperature, light levels, and motion. These types of innovations—created by Parallel—will allow the company to better manage resources, he believes, and showcase the company's creativity. The new facility will include a demonstration center for clients, so they can see the company's communications and network technologies up close.
The current real estate climate was another reason for the move, Klein adds. With low interest rates, and a fair number of office properties available, it's a buyer's market right now. Most likely, it doesn't exactly break employees' hearts to be so close to Eden Prairie's myriad options for lunch and shopping, either.
In terms of business growth, Parallel is on track, notes Klein. The company has aggressive goals for reaching $50 million in annual revenue in the next five years. The plan is to reach that mark through organic growth and acquisitions in the Midwest. The new facility should help in many ways, Klein says, including a boost to employee productivity, better building utilization, and energy savings.
Source: Dale Klein, Parallel Technologies
Writer: Elizabeth Millard