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Transformer Monitor Moving HQ Across State

PORTLAND-With $16.5 million in new financing, Serveron, formerly Micromonitors, plans to select a spot in the Sunset Corridor over the next 10 days from which it can grow to 50,000 sf within 18 months and to 150,000 sf over the next few years.

By Brian K. Miller | Updated on June 24, 2001

PORTLAND-After seven years of struggle, a Bend-based company that invented a high-tech tool for detecting problems in electrical transformers appears ready to surge. With $16.5 million in new financing and frontrunner status in a multi-billion market, Serveron, formerly Micromonitors, plans to select 20,000 sf of flex space over the next 10 days in a location where it can grow to 60,000 sf in the next 18 months and to 150,000 sf over the next few years.

The goal of the move is to be better positioned to attract the quality engineers needed to keep pace with demand for its product. As a bonus, due to the slumping economy, the company’s broker tells GlobeSt.com he is finding some fantastic deals west of Portland in the Sunset Corridor area.

“We are seeing a number of sublease opportunities in the sub-$1/sf/mo range (on a net basis) where the offices, telephones and networks are already in place,” says Pat Schreck of Melvin Mark Brokerage. “Newer space is in the sub-$1.05/sf range with lots of incentives, including free rent and high tenant-improvement allowances; I’ve even been offered a trip to Hawaii.”

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