Profile: TraceLink is the world’s largest “track and trace” network for connecting the life sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. In 2013, TraceLink was growing rapidly and needed to find affordable space that could accommodate their growth, while still being respectful of their budget. We helped them identified a particular location on Route 128, where we managed to secure a sublease for two years under favorable terms to accommodated their growth. The challenge going forward was to find longer term space to not only satisfy their current needs, but to provide for continued expansion over the next 5-7 years.
Solution: After completing a thorough analysis of the market and employee commuting distances, the optimal building and location was identified in North Reading. The location provided the image the company was looking for, coupled with close proximity to Route 93 and their employee base. We were able to negotiate favorable lease terms, with a generous tenant improvement allowance, and options to expand. In 2015 TraceLink moved into 30,000 sf, and less than one year later expanded to 50,000 sf. The buildout was done on a remarkable timeline, on budget, and resulted in a spectacular layout for thier employees and customers who visit.
“The Stevens Group provided us with the in-depth knowledge of the real estate market, and the experience and skills required to enable us to negotiate a cost effect lease. They strategically matched our business plan, financial goals and growth curve, with the optimal real estate solution.”
Michael Mozzer, CFO, TraceLink, Inc.