| Santa Barbara Technology Group Finds New Partners for SB Tech Incubator |
Santa Barbara, Calif. , June 17, 2002 – Santa Barbara Technology Group, LLC (‘SBTG’) has announced that their high-tech executive suites operation, formerly known as Santa Barbara Technology Incubator and Santa Barbara Technology Properties, has been re-formed as a completely independent company which is now jointly owned by SBTG; Bermant Development Company (‘BDC’), owner and operator of the Pacific Technology Center (‘PTC’) in Goleta; and Price Management Company. The new company will be named SB Tech Ventures, LLC, and will be operated by BDC. Jeff Bermant, President of BDC, noted, “Our new company will combine the only two real flexible technology office suites in the county. SBTG has created the premier tech space for consultants, early-stage and small companies. We feel that joint operations with PTC will offer a unique range of very convenient and cost-effective office alternatives.” John Price, CEO of Price Management, stated, “SBTG and BDC have both done an incredible job of branding and marketing their respective facilities. We all feel that this new team will be the acknowledged leader in Santa Barbara county for office needs for small to medium sized companies.” Dennis Cagan, founder and CEO of Santa Barbara Technology Group, and the Incubator noted, “we are very pleased to have found financial and operating partners who share our vision and will continue to operate our facility to the benefit of our tenants and the community. I expect the Incubator will continue to be a focal point of many entrepreneurial technology ventures and public service activities for years to come.”
Since its founding in April 2000, SBTG’s Incubator , as it has been informally referred to, has become well known locally as home to over thirty-five different companies (not all technology related) that have been attracted to the flexible terms and technology infrastructure of the 26,000 square foot facility located at 402 E. Gutierrez St. in downtown Santa Barbara. The main Board room is also a popular meeting place for dozens of local non-profit boards of directors.
The Gutierrez building offers competitively priced, fully equipped office space for individuals or entire companies. The Ready-to-Work Office Space can be quickly and easily expanded or reconfigured to accommodate rapid growth or reorganization within a company. The facility has multiple conference rooms to accommodate various group sizes. Occupancy terms range from 1 month to 12 months. Other features include fully-furnished, state-of-the-art offices and cubicles with high-speed Internet access, a fully-configurable phone system; reception area and receptionist; kitchen/eating area; a games area and showers.
“As an early-stage company, we need to focus on building our business rather than worry about finding appropriate office space and outfitting it to our needs,” said Tom Fragala, founder and CEO of Vistera, a company emerging as the leader in providing e-management solutions delivered over the web for the hospitality, retail and other franchised industries. “Moving into the new SBTG building represents a significant savings in time and capital expenditures for us.”
SB Tech Ventures, LLC combines the operations of the Incubator with those of BDC’s Pacific Technology Center (PTC) which is a 70,000 square foot entrepreneurial campus in support of emerging high technology companies at multiple stages of development. The PTC houses over twenty different companies.
About Bermant Development Company
Bermant Development Company was founded in 1983 to solve the complex needs of California communities for homes, workplaces, and a balanced environment. BDC has developed more than 1,500,000 square feet of commercial projects and 265 homes in southern and central California. Its award winning projects have been successful because it builds long-term relationships – partnerships – with its tenants, homeowners, investors, lenders and with local communities.
BDC manages its own projects and also manages the asset of clients. The historically high rates of return its has been able to achieve are only realized by professional management practices. Its responsiveness to tenant issues and attention to detail positively impacts a project’s bottom line. www.bdcdevelopment.com
About Santa Barbara Technology Group
Santa Barbara Technology Group, LLC is a private investment and consulting firm engaged primarily in working with, and acquiring equity from, early-stage technology companies. The firm has become an important connection for any high-tech start-up on the Central Coast. SBTG provides world-class management assistance, strategic guidance, and valuable connections for entrepreneurs, as well as helping young companies gain access to financing, and operational and technological infrastructure. www.sbtechnology.com