Here North America LLC, formerly known as NAVTEQ—a Chicago-based provider of Geograpfic Information Systems (GIS) data and electronic navigable maps, recently closed on a sublease transaction with CardioNet. According to a report from jayrickey.com, the transaction was brokered by CBRE Inc. and Colliers International, who represented the sublandlord, and Cresa, who represented the subtenant.
Headquartered in Conshohocken at 227 Washington St., CardioNet is best known for having developed an integrated technology and service called Mobile Cardiac Outpatient Telemetry (MCOT), which enables ECG monitoring, analysis and response at home and away.
Since the company’s current lease contract will expire at the end of the year, CardioNet will relocate its operations at 1000 Cedar Hollow Rd. in Malvern near the Great Valley Commerce Center. Reportedly, CardioNet has subleased nearly 50,000 square feet of space Malvern. The sublease will commence on Jan. 1, 2014, with an expiration date set for March 30, 2021.
1000 Cedar Hollow was built during the 1960s as a two-story office facility. After a complex renovation process completed in 2011 under plans by Meyer Design Inc., the facility was transformed into a modern, Class A office building anchored by NAVTEQ’s expanding operations.
Rendering via Meyer Design, Inc.