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M2M Deal Story: 2016 - November - CREW Utah Beddard

November 2016


CREW Utah Members Partner to Bring PRA Health Sciences Under One Roof

Beddard, Hanlon and Marsh close $14 million lease deal for R&D giant in Salt Lake City

By Laura Lewis, CREW Network

Three CREW Utah members – Alison Beddard, Peter Hanlon and Jami Marsh – teamed in August of 2016 to secure a new 65,000 sq. ft. space in Salt Lake City for PRA Health Sciences, one of the world’s leading global contract research organizations providing outsourced clinical development services to the biotechnology and pharmaceutical industries. The deal was approximately $14 million.

m2m-deal-utah-beddard-nov-2016-v2Marsh, JLL Vice President and 2016 President of CREW Utah, represented PRA in the transaction. Beddard and Hanlon from Cushman Wakefield/Commerce represented the landlord. The pair heads Cushman and Wakefield’s Healthcare Practice Group for Utah. Beddard, who will serve as CREW Network President in 2017, is Director of Office and Investment Brokerage Services.

PRA, previously spread out though three locations, will now lease 65,000 square feet of space in 1255 East 3900 South Street, also known as the Evergreen Office Plaza. The move supports the company’s strong growth and commitment to their clients and the surrounding community.

“Combining assets under one roof will provide PRA with the opportunity to provide their employees with a more cohesive, efficient environment,” said Marsh. “This will drive innovation and creativity and allow PRA to remain on the forefront of development.”

The Evergreen Office Plaza was recently renovated to include glass openings to the building, a grand entrance pavilion and many other amenities. The property is located in east side Salt Lake close to St. Mark’s Hospital, restaurants, shops, hotels and a dense, high income, population.

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