The new space represents an expansion from the company's previous location. Compound Therapeutics was represented in the transaction by Jonathan Varholak and Michael Frisoli, partners at Richards Barry Joyce & Partners. The company is sub-leasing the space from Oscient Pharmaceuticals, which was represented by Spaulding & Slye Colliers. Oscient Pharmaceuticals was formed through the merger of Genome Therapeutics and Genesoft Pharmaceuticals.

"The building at 100 Beaver Street provides Compound Therapeutics with an excellent second-generation biotechnology space in the suburban market," says Varholak. "They are also able to take advantage of the current market rates, while staying in Waltham, which is becoming a popular biotechnology center."

According to Spaulding & Slye Collier's most recent statistics, the area's overall availability rate for its research and development market is at 41%. Excess sublease space continues to drive some of that vacancy as the vacancy rate for direct space is at 33%. Leases rates for this deal were not available, but the average asking rent for research and development space in the area is about $14 per sf. Sublease deals tend to command a lower rate.