Brett Crockett, Pellucid’s chief operating officer, said growth of its client base requiring more employees and space is driving the move. Its office at 1426 Pearl St. is about one-fourth the size of the new space, he said.
“It’s hard to find space greater than 5,000 square feet in downtown,” Crockett said. He added that lower lease rates in east Boulder were a factor.
Pellucid has created a software platform that can be used on desktop computers and mobile devices to aggregate data and automate presentations, or pitchbooks, which can be used by investment bankers and asset managers, saving them hours of time in collection and organization of data.
Pellucid was founded in 2011 with three employees. It has 18 employees in its current office at 1426 Pearl St., Suite 100, and about 15 at an office it maintains in New York. Crockett expects Pellucid’s employee count in Boulder to grow to 40 to 50 employees within the next year.
Scott Garel of Newmark Grubb Knight Frank represented the landlord, Goff Capital Partners. Dean Callan & Co. and DTZ were also involved in the lease transaction.