Garnett Capital signed a 10-year lease for 20,000 sf in the project, which is located a few blocks from Glenborough's home offices. It will occupy the entire fifth and sixth floors of the project under construction at 101 Ellsworth St. Merrill Lynch signed for 19,500 sf and will occupy the entire fourth floor.

Construction should be completed prior to year-end 2001. The project floor plates can be broken down to various sizes ranging from 8,500 sf to 19,100 sf. The building also is equipped with nearly 100,000 sf of covered parking.

Mike Moran, Ben Paul and Scott Davis of BT Commercial have the project listing and represented the landlord in both transactions. Last year Glenborough completed five office property acquisitions for about $79 million.