Clinical research firm will occupy all 77,239 square feet in the Class A facility
(Raleigh, NC – May 15, 2012) Duke Realty Corporation’s (Duke Realty) Raleigh office has signed a new lease with Novella Clinical, a full-service clinical research organization (CRO) dedicated to clients in the oncology, medical device and biopharmaceutical industries, in its Perimeter Park development in Morrisville. Novella will occupy all of Duke Realty’s building at 1700 Perimeter Park Drive, a 77,239-square foot Class A office building.
“We are pleased to welcome this well-respected and growing life sciences company to Perimeter Park,” said Jeff Sheehan, Senior Vice President of Duke Realty’s Raleigh operations. “Our 1700 Perimeter Park building gives Novella dedicated space for its operations under one roof, plus provides them with access to the many convenient amenities within the park.”
1700 Perimeter Park is a three-story office building located in Perimeter Park, Duke Realty’s 2.5 million-square foot, mixed-use development that includes office and industrial space, along with dining, hospitality, medical, fitness and conference facilities in a park-like setting. Perimeter Park is located off I-40 and I-540 and just minutes from Raleigh-Durham International Airport.
Novella Clinical’s Chief Financial Officer Charles Lambert noted, “Novella has experienced tremendous growth over the past several years, and the Perimeter Park location provides Novella with much-needed room for expansion now and the flexibility to accommodate Novella’s space needs moving forward. We are also pleased to offer our employees assets including a gym, walking trails and enhanced training facilities.”
Brad Armstrong with UGL Equis represented Novella in the transaction, while Hooker Manning, Vice President of Leasing, represented Duke Realty.
About Novella Clinical
Novella Clinical, Inc. is a full service contract research organization with dual headquarters in Research Triangle Park, N.C and Stevenage, England. For more than a decade, Novella has served as an active partner to the oncology, medical device and biopharmaceutical industries. As the first global eCRO, Novella integrates deep clinical expertise with industry-leading technologies and a proven approach to support, streamline and expertly resource the entire product development process. For more information, visit www.novellaclinical.com.
About Duke Realty
Duke Realty entered the Triangle market in 1999 and has developed many noteworthy properties including Perimeter Park and CAPTRUST Tower. Today, Duke Realty owns and manages more than 6.2 million square feet of industrial, office and medical office properties in the market.
Duke Realty owns and operates approximately 139 million rentable square feet of industrial and office assets, including medical office, in 18 major U.S. cities. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty is available at www.dukerealty.com.
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