SunTech Medical relocates headquarters to Bradford Center in Morrisville
JLL represents leading medical device company in 49,198-square-foot deal
JLL Raleigh’s Tenant Representation team today announces that SunTech Medical (SunTech) is relocating its headquarters to a 49,198-square-foot space at Bradford Center, a 121,883-square-foot office building in Morrisville, North Carolina, part of the Research Triangle metropolitan region. JLL Managing Director Michael Morgan and Associate Ashley Lewis represented the tenant, while Pam Michael and Robin Anders with TriProperties/NAI Carolantic represented the building's owner, Alidade Capital.
SunTech is a global supplier of clinical-grade blood pressure monitoring products and technologies for standard clinical and more challenging applications, such as EMS, stress tests, veterinary, and more. SunTech will expand its office, manufacturing and warehouse/distribution capabilities into the new flex space at Bradford Center, which has the capability to accommodate up to 170 employees. The space’s manufacturing component will support the testing and customization of SunTech’s blood pressure monitoring products. Following interior renovations, SunTech will begin occupying the space in Q2 2022.
“As Raleigh’s life sciences industry continues to experience robust growth and increased demand, Bradford Center will provide SunTech with a competitive advantage to enhance and expand its current operations,” said JLL’s Morgan. “SunTech’s move is another positive indicator that occupying strategically located space in The Triangle is vital to a company’s innovation and growth.”
Located within Imperial Center and adjacent to Research Triangle Park, Bradford Center houses over 20 life sciences and technology companies, and offers direct connectivity to nearby amenities including a number of dining, hotel, banking and fitness options. Alidade Capital is underway on capital improvements at the campus, which include exterior entrance enhancements, hardscape and landscape upgrades and the addition of outdoor gathering areas.
“Bradford Center provides unmatched visibility to the surrounding life sciences community, and positions us well for our next stage of growth,” said Mike Williams, vice president of operations at SunTech Medical. “We are grateful to JLL for finding a space strategically located near sought-after amenities in a state-of-the-art environment, and we are looking forward to our team’s future.”
According to JLL’s Q3 Raleigh Office Insight, asking rents have continued to increase each quarter in 2021, signaling landlord optimism for a positive office market climate post-pandemic. While vacancy sits at 14%, JLL’s experts predict that leasing velocity will continue to increase as new deliveries enter the market. As developers continue to set future projects in motion, the office market will reap the benefits of a post-COVID business climate for the long term.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.