NORTH BAY BUSINESS JOURNAL EVENT

2008 CONSTRUCTION CONFERENCE

Building the North Bay: What's on the horizon?
Tuesday, May 20, 2008, 8-11:30 a.m., Hyatt Vineyard Creek, Santa Rosa

E-Mail Express

Name:

Company:

E-mail:

Phone:

Marin County software firm relocating to Petaluma

EXPERTS SAY MOVE COULD SIGNAL BEGINNING OF NEW NORTHWARD MIGRATION

NORTH BAY – A long-time Marin software company is moving its headquarters north to Petaluma in what could be the beginning of new northward migration of companies. AccountMate Corp. will spend its 25th year in the accounting software business in a brand-new condominium at the Technology Lane Business Center, according to COO David Render.

“We’re delighted to be owners instead of renters. We’re able to build out the space exactly the way we want it,” he said. “We looked, but we couldn’t find anything comparable in Marin County.”

The company will move its 22 employees into the new space sometime in May, said Mr. Render.

Brian Eisberg of Orion Partners, who represented AccountMate in the purchase, said the move north from Marin to Sonoma County could signal the beginning of another trend of companies relocating.

“It’s a pivotal market event,” said Mr. Eisberg, noting that during the high-tech boom of the 1990s rents soared in Marin and Orion saw the demand for about 2.5 million square feet in Petaluma and points north.

Today, as much as a third of the space developed since then in Petaluma is sitting vacant. “The migration just stopped cold. It’s been years since the last Marin company relocated to Sonoma County,” said Mr. Eisberg.

AccountMate is spending approximately $2 million to purchase and fit the 6,500-square-foot condo developed by Doyle Heaton. Mr. Heaton is president and CEO of Pleasant Hill-based homebuilder Delco Builders & Developers. Delco currently has North Bay home developments in Petaluma, Santa Rosa and Napa.

AccountMate has had its headquarters in Novato since it was founded in 1984. In 1993, the company was acquired by South Africa-based Softline, which was purchased by UK-headquartered Sage two years later.

AccountMate was put under the U.S. Sage branch Best Software in Irvine. In 1995 AccountMate executives and some investors bought the company back from Sage. Privately held, AccountMate doesn’t disclose revenues, but Mr. Render puts them at “under $10 million.”

AccountMate develops and markets fully modifiable business accounting software systems ranging from single-user versions to those that support hundreds of users simultaneously.

The software is distributed exclusively through a worldwide channel of authorized business partners.

“We looked very carefully at the needs of our employees while pondering the move,” said Mr. Render.

Over one-half of the company’s staff lives in Sonoma County, he said. The others will have a reverse commute.

“The new location is only 10 miles north of our current space but a world away in amenities and usable space,” he said.

Sean Heaton and Josh Lindberg of Cushman & Wakefield represented the building developer in the purchase.

Book of Lists Online