Agenda - 03-13-2012 - 4b - Laserfiche WebLink

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23 storage areas. Office-space users have been able to expand into office space in the same building or space close by. The space needs of companies in medical devices or clean technology are more varied. Several could be grouped with life-science companies although needing dry-lab space more than wet-lab space. Others found good space in office or industrial buildings. Their preferences can be similar to information technology companies. The qualified information technology companies tend to occupy generic office space. They are best distinguished by years since founding which ranged from 2 to 24 years. The youngest one is in the Launch Pad associated with Renci at the Europa Center. The 5-year old company has good affordable office space in Carrboro ($15/SF/year) but is seeking more centrally located space in Chapel Hill or Carrboro closer to amenities ("a fun location for our young employees"). The amount of rented space is flexible because employees can work at the office, at home or anywhere that provides wifi. The 10-yeax old companies rent space near RTP in Morrisville or Durham. One wanted to expand in Hillsborough where one of the founders lived but could not find space. The flex space near the Sportsplex did not exist at that time. After a few years in the First Flight incubator in RTP, the company was able to find flex space next to a company with whom they conduct lots of business. The second company has grown from 3,000 SF to 50,000 SF of flex space in an office/industrial park. The company pays $13/SF/year on a 5-year lease. The landlord allows the company to move within the park as more space is needed without changing lease terms, a feature much appreciated by the company. The location near RDU is ideal for recruiting employees seeking reasonable commutes primarily from Wake County. The third company occupied second-floor space in downtown Chapel Hill for 4-5 years before moving to its current location near RTP. The founder left Chapel-Hill to-lower rent by almost 50%, to improve parking availability, and to avoid panhandlers/homeless persons. Female employees leaving work after midnight felt unsafe in downtown Chapel Hill. The 15-year old company has moved three times since starting on the second floor in Carr Mill. After several years of growth, the company found adequate office space in Chapel Hill near I-40. Since the founders and many employees lived in Carrboro, they moved the company back to Carr Mill seven years ago. The 24-year old company is the oldest one surveyed. The company began operations in a Durham office park before moving to the Europa Center where it was located for 16 years. During that time, the company moved four times within the Europa Center eventually leasing 5,000 SF. For five years the owners looked before finding a 6,500 SF building they purchased in 20