Zipcar, which provides access to on-demand transportation, leased 5,080 sf of office space. Kavoogian and Cole represented IBUS in this transaction as well, while Christopher Crooks of CRESA Partners represented Zipcar.
Among the other tenants at the four-story building are 170 Systems, Art and Technology Group, LNS Communications, Painted Word, Interwise, Cignal Global, Profitlogic, AOL Digital City and Bellotti & Barretto. Lease rates for this deal were not available, but the average asking rent for office space in the building is $23 per sf. According to Grubb & Ellis's most recent statistics, the vacancy rate for the office market in Cambridge is about 22%.
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
Already have an account? Sign In Now
*May exclude premium content© 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.
