Case Study: Noctrix Health
Learn how Donahue Real Estate Advisors enabled Noctrix Health to secure a functional office in Oakmont, facilitating collaboration and positioning the company for future growth.
Project Objectives
- Secure a move-in-ready office in Oakmont with minimal improvements.
- Find a short-term lease to maintain flexibility while raising capital.
Project Challenges
- Hybrid Work Structure: Needed a physical office to facilitate collaboration and innovation.
- Geographical Constraints: Limited search area to Oakmont or surroundings for easy commute and proximity to amenities.
- Short-Term Lease: Sought a short-term lease in a move-in-ready space to save on build-out costs and time.
Client Profile
- Size: 3,500 SF
- Location: Oakmont, Pittsburgh
- Industry: Medical Technology
- Project Type: New Location
- Company Bio: Noctrix Health is a medical technology company founded to address unmet needs for people with chronic conditions, specifically Restless Legs Syndrome (RLS). Led by experts in neuromodulation and medical device design, the company develops wearable therapeutics to improve patient care.
The Curveball
- Informal Dealings: The selected landlord preferred informal negotiations over formal paperwork, requiring an adaptable approach.
Project Timeline
Strategic Solutions by Donahue Real Estate Advisors
- Targeted Search: Identified a suitable office in Oakmont that met location and condition requirements.
- Lease Negotiations: Secured a favorable short-term lease to maintain flexibility.
- Minimal Improvements: Arranged for minor updates, including new paint and flooring in two rooms.
- Personalized Negotiations: Adapted negotiation style to align with the landlord’s informal preferences.
Results: Success Through Flexible Leasing and Location Strategy
- Cost and Time Efficiency: Avoided extensive build-out expenses with a move-in-ready office.
- Team Collaboration: The new office supports team building and fosters innovation.
- Flexibility: The short-term lease aligns with the company’s fundraising timeline, allowing future relocation options as needed.
Conclusion: Supporting Growth and Innovation for Noctrix Health
Donahue Real Estate Advisors enabled Noctrix Health to secure a functional office in Oakmont, facilitating collaboration and positioning the company for future growth.