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Idealab Looking to Sublet Space

BOSTON-Pessimists looking for validation need look no further than Idealab, an incubator for Internet start-ups, which is reportedly looking to sublet some of its office space here, about a year after signing the lease.

By Naomi Grossman | Updated on February 28, 2001

BOSTON- In yet another indication of the burst of the high-tech bubble, Idealab, an incubator for Internet start-ups, is reportedly looking to sublet part of its 22,000-sf office space here. The company moved into its offices here in the former Exeter Theater on Newbury Street about a year ago.

When Idealab leased this space, the company was the classic Internet start-up with companies like eToys listed among its early successes. The Nasdaq was then at its height and incubator companies like Idealab were ubiquitous. Idealab spent several million dollars building out the space that could accommodate up to 205 employees even though the company at the time only had 70. Since then, the high-tech market has come back down to earth, and many companies have gone the way of eToys, which reportedly plans to file for bankruptcy protection shortly. A number of high-tech companies in this area have been forced to sublet office space that they had leased in anticipation of rapid growth.

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