Southern Oregon's largest locally owned accounting firm plans to relocate near the Medford airport next year.
KDP Certified Public Accountants broke ground this month on a $6.8 million, two-story, 22,656-square-foot office in Navigators Landing off Biddle Road.
Two 35-year-old firms — Kosmatka Donnelly & Co. and Michael L. Piels CPAs — merged in 2014, forming KDP, which presently operates on Superior Court. With management and staff nearing 50, the present 10,000-square-foot quarters are increasingly cramped.
"Our lease is up, and we're running out on space," Managing Partner Mark Damon said. "We've done a significant amount of tenant improvements the past 30 years, but we knew it was time to search."
When it came to existing space, however, the search was fruitless.
"There just wasn't a lot out there with the feel we were looking for," Damon said. "There isn't a lot of Class A office space in Medford, especially 14,000 square feet."
That led to looking for vacant land. KDP and its business associates secured two lots and financing from First Interstate Bank .
"We wanted to design it from the ground up," Damon said.
The office on the northeast corner of O'Hare Parkway and National Drive is adjacent to Washington Federal and Oregon Advanced Imaging and across the street from the headquarters of C & K Market, the parent company for Ray's Food Place.
"We love the location, and it's very convenient for our client base," he said. "With the new Costco nearby it's spurring a lot of development in that area."
KDP's primary market runs between Lane County to the north and Redding, California, south, and from the coast to the Klamath Basin. Nonetheless, the firm serves clients as far away as Texas and Los Angeles.
"We travel too, so it's convenient for us, as well," Damon said.
Partners Dan Kosmatka, Stewart Parmele, Robert Hague, Jeny Grupe, Rory Rosh, Susan St. Range and Nancy Sash round out the leadership team.
KDP handles audit, tax and wealth management services, and provides virtual chief financial officer assistance for both small and large clients.
Damon said the firm presently has 15 CFO clients and consults on 50 related projects at any given time.
Baby boomer retirements and an expanding economy have conspired to create a shortage of talent in the accounting field, he said.
Ashland architecture firm Kistler + Small + White designed the brick, glass and wood design with similar looks from the street and parking lot. KDP will occupy 14,000 square feet, or about five-eighths of the structure, including the entire top floor. Outlier Construction, the general contractor, will move its office from Barnett Road to the ground floor.
KDP anticipates moving to the new location in April 2019. Damon said KDP is searching for a third tenant, most likely in the financial services arena.
Reach reporter Greg Stiles at 541-776-4463 or email@example.com. Follow him on Twitter at www.twitter.com/GregMTBusiness, on Facebook at www.facebook.com/greg.stiles.31.