Compaq has leased the building since 1998, when it merged with Digital Equipment Corporation, the space's occupant since 1990. "When our option to buy the property came up, we felt it made sense to invest in the building rather than continue to pay rent," said Compaq spokesman, Brian Garabedian. Rents in the tight University Avenue market currently range from $8 to $16 dollars per sf per month.

Compaq and its lab crew of 60 employees occupy the entire site, except for city-mandated retail space at street level.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Office