Compaq Buys Into Downtown Palo Alto

PALO ALTO, CA-The computer maker is buying a 41,000-sf building that houses the company's lab facility. Compaq has leased the building since 1998, when it merged with Digital Equipment Corporation, the space's occupant since 1990.

By Skip Corsini | March 06, 2001 at 01:01 AM

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.

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