Stratacache has purchased Kettering Tower and will make downtown Dayton’s tallest building the company’s new headquarters.
Stratacache is the Dayton company that designs and makes digital retail and restaurant signs and other customer-facing technologies. Chris Riegel, Stratacache founder and chief executive, said that will remain the company’s core business as Kettering Tower becomes the company’s headquarters over the next 18 to 24 months.
“It’s a signature building in the city, no question about it,” Riegel said Friday.
The announcement comes nearly two months after the CEO said Arkham Ventures Inc. — the company’s real estate acquisition arm — also had purchased the Courthouse Plaza building at 10 N. Ludlow St. across from Dayton city hall.
Now the company, which paid $13 million for Kettering Tower, will own two of downtown’s most prominent buildings.
Riegel said he will have more to say about his company’s plans and position within the community in a press conference planned for Feb. 20 or 21. But for now, he believes the newly acquired properties will help Stratacache attract the “best and the brightest” employees.
“There is a clear renaissance happening in the city,” Riegel said.
The CEO said he was notifying tenants and employees of the purchase Friday. He said his team has not decided quite yet what will become of the company’s current headquarters at 2 Emmet St., near the Great Miami River.
“There will probably be some highly positive news about the company from that press conference,” he said. “We’re certainly taking a big step in terms of investing in Dayton.”
Sandy Gudorf, president of Downtown Dayton Partnership, applauded the purchase.
“To have a local owner for that important downtown building is incredible news for Kettering Tower and that company,” Gudorf said.
“It speaks to all the progress downtown and to all the investment made by developers and investors in property in downtown.”
The Stratacache story has been one of steady growth and global success. The company has about 350 employees in the region, with about 250 working within Dayton city limits.
Stratacache has invested in real estate across the area, in Huber Heights, Trotwood and elsewhere, and the company has made waves globally by making strategic investments to augment its tech business.
Riegel has talked of a growth plan to hit $1 billion in sales by 2020.
“I think it certainly represents further growth and further investment in a flagship property,” he said when asked what the Kettering Tower purchase means for his core business.
Rich Gillette contributed to this story.
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