Newmark Grubb Knight Frank brokers Reid Blynn and Tim Morris represented Bracket, a leading clinical trial specialty services provider, in the relocation of their Bucks County offices to 1150 Northbrook Drive in Langhorne, Pennsylvania, which took place on April 1, 2016.
Bracket conducted an extensive search for space in the Lower Bucks county submarket to accommodate its expanding business. The objective of the search was to find space in a single footprint to combine what was previously on multiple floors, as well as to reduce occupancy costs, while providing additional space for potential future expansions.
“The objective of creating an expansion opportunity for Bracket while at the same time saving them money was a challenge,” said Blynn. “We provided an employee residence analysis and site selection process which resulted in the identification of the final site. The new location has a better proximity to employee’s homes, local amenities and is directly on a turnpike entrance. We were able to negotiate $1 million in lease concessions for our client on top of everything else.”
“Bracket has grown tremendously over the past several years. This relocation gives us the space we need to continue to grow as a business, and strategically align our delivery to meet the demands of our expanding client portfolio,” said Jim Primerano, General Manager of Bracket’s eClinical business.
The new space is a 26,714-square-foot sublease which accommodates their continued growth within an efficient footprint, using systems furniture which was left in place by a previous tenant. With this move, Bracket is able to provide an attractive location for employees and clients, with compelling financial terms for the company.
Bracket, with seven offices and more than 500 employees worldwide, is a specialty services provider dedicated to helping biopharmaceutical sponsors and contract research organizations increase the power of their clinical research data by leveraging core competencies in Science, Technology, and Service. Bracket eCOATM is a flexible platform for electronic clinical outcomes assessments. Bracket RTSMTM is a best-in-breed, scalable and configurable clinical IRT solution for the life sciences industry. Bracket Rater Training and Quality Assurance improve outcomes through customized training and quality assurance programs. Learn more about Bracket at https://www.bracketglobal.com/.
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