2:15 PM
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.
About Bracket
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/.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.