Friday, December 02, 2011

Larson Allen Looking to Grow

According to an article in today's St. Louis Business Journal, Larson Allen has acquired NBA Inc., a Belleville-based accounting and consulting firm.  NBA's 22 employees will be relocated to Larson Allen's offices at 600 Washington, bringing the firm's total headcount downtown to 135.

Also mentioned in the article is Larson Allen's recently announced merger with Clifton Gunderson to create Clifton Larson Allen.  Clifton Gunderson currently has approximately 75 employees at its office in Clayton, which begs the question: will the combined firm maintain a downtown office and a Clayton office, or will it consolidate the two? 

With several full floors available, 600 Washington has plenty of space to accomodate the addition of 75 employees, whereas the Clayton building in which Clifton Gunderson is located only has three small suites available, offering nowhere near enough space for Larson Allen's 135 employees.  Even if the Clayton building did have adequate space, its space rents for $8 per square foot more than 600 Washington.

Should Clifton Larson Allen move its Clayton-based employees downtown, it would need anywhere from 13,000 to nearly 19,000 sf to house them - approximately the size of a full floor of 600 Washington.

Larson Allen has been bullish on downtown since moving here from the suburbs.  Will their Clifton Gunderson counterparts be as receptive to making a move downtown?  Let's hope so.

3 comments:

Adam said...

We always considered putting our real estate office downtown but although I thought the idea was very romantic could never really justify it.

Deena Smith said...

Great post! The answer seems a little obvious to me...I work at an accounting firm in NYC and we always go with the 'too much is better than not enough' rule. If they go with 600 Washington, they may have more than enough room but wouldn't that be preferable if they were going to do any more hiring anytime soon? It's cheaper and it's got plenty of space! They should go with 600 Washington!

worriedabouthewrongthing said...

Check out an infographic about jobs in St. Louis. It's interesting that there is a relatively diverse set of jobs in the metro area:

http://extrahelpinc.com/2012/01/the-st-louis-workforce-a-gateway-to-employment/