"The Cranford office will become our East Coast focal point for project management, clinical services and medical marketing, affairs and communications service offerings," according to chairman/CEO Candace Kendle. "This consolidation will provide us with enhanced efficiencies and significant cost-saving opportunities."
The moves will occur as the leases expire at the two locations being vacated. The Fort Lee lease, at 1 Bridge Plaza, expires during the first quarter of this year, while the Princeton lease, in Princeton Corporate Center, ends in the first quarter of next year. The company's Cranford location is at 6 Commerce Dr., a 56,000-sf class A office building owned by Mack-Cali Realty Corp., based in Cranford.
Kendle International is planning to take a one-time charge of between $500,000 and $600,00 relating to the moves. Most of the cost involves finalization the consolidation and relocating the company's employees. When the moves are completed, the company will be left with two East Coast offices, the other being in Old Lyme, CT.
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