SYRACUSE — The Delmonico Insurance Agency, an independent, family-owned firm, plans to move to a larger office this fall. The agency is also interviewing to add staff even before the move. The employee growth will include hiring for positions that include entry-level customer support and advance account manager. “With the growth of […]
SYRACUSE — The Delmonico Insurance Agency, an independent, family-owned firm, plans to move to a larger office this fall.
The agency is also interviewing to add staff even before the move.
The employee growth will include hiring for positions that include entry-level customer support and advance account manager.
“With the growth of the business, we’ve had to look at other spaces because we’ve really outgrown the space we’re in now,” says J.D. Delmonico, vice president of the Delmonico Insurance Agency.
Both Delmonico and Ryan Trombino, the firm’s director of operations, spoke with CNYBJ on July 9.
The Delmonico Insurance Agency this fall will relocate its headquarters from its 2,000-square-foot space at 901 Lodi St. in Syracuse to a 3,500-square-foot space in the office building at 906 Spencer St. near The Gem diner.
Montreal Construction Co.; Salt City Enterprises, LLC, a development firm; and Allegiance Realty, LLC, which are part of the Montreal Companies, currently occupy the space at 906 Spencer St., says Len Montreal, president of Montreal Companies.
He spoke with CNYBJ on July 14.
The website of the Onondaga County Office of Real Property Tax Services lists Salt City Enterprises, LLC as the property owner at 906 Spencer St.
The firms will vacate the space by Oct. 1, Montreal says. He’s not yet sure where the companies will relocate, but he’s hoping it’ll be another building his firm owns in the Inner Harbor area.
Finding the space
The Delmonico Insurance Agency’s search started in February and lasted about six weeks, says Trombino.
“We looked all around the city and visited a lot of places,” he says. The business handled the property search on its own.
The company wanted to stay in Syracuse because it has operated in the city for more than 30 years, says Delmonico.
“We did not look to any of the suburbs. We wanted to say in the core of the city,” he adds.
The “majority” of the agency’s staff commutes between 30 and 45 minutes, traveling from “all directions,” including Oswego, Auburn, and Chittenango, says Trombino.
“We really wanted to help them out and be centralized,” he added.
They eventually met Montreal, and “it was just an easy, natural fit,” says Delmonico.
“It became a pretty clear choice of what was the best fit for us,” he added.
The Delmonico Insurance Agency is using its own assets to finance the move. Montreal Construction is handling a “very minimal” build-out to prepare the space for the new tenant, says Delmonico.
The agency signed the lease on July 1.
“We’re hoping that the new location is going to serve … as a tool for us to help attract the most talented people we can,” says Delmonico.
The agency wants to add between three and five additional full-time employees before the end of the year. It now has 45.
Operations
Besides the Lodi Street location, Delmonico Insurance Agency also operates an office at 39 Jordan St. in Skaneateles.
Delmonico and Trombino declined to disclose revenue totals for their firm, but they indicated the agency grew its revenue 12 percent in 2014 compared to 2013.
Delmonico Insurance Agency is also projecting revenue growth of 10 percent in 2015.
Delmonico declined to disclose how many clients the agency services but noted commercial clients make up 60 percent of its customer base, while the remaining
40 percent are residential customers.
J.D. Delmonico owns the business with his father, Joseph (Jed) Delmonico, and J.D. is the minority owner.
The agency offers lines of insurance from more than 30 insurance carriers that include Allstate, The Hartford, Preferred Mutual Insurance Co., Utica National Insurance Group, Hanover Insurance Group, Progressive, and Travelers.