The company, which will relocate its Schlumberger-Doll Research center from Ridgefield, CT, will set up shop as early as this fall in one of the buildings, moving into the second, third and fourth floors of an existing seven-story structure at One Hampshire St. A second seven-story building being built on the property will house the firm in the basement and first four floors once construction is completed in September 2006, Mark Winters with Cushman &Wakefield's Boston office tells GlobeSt.com.

Schlumberger, which will operate a physics lab on the property, also will have the option to purchase the space once the lease expires, Winters says. "For them and their clients, its all about having the best scientific talent available and they felt the best place to be was Kendall Square." He notes that the location offers easy access to Harvard University, the Massachusetts Institute of Technology and the area's other universities and colleges.

Headquartered in Germany, Schlumberger supplies technology, project management and information solutions to the oil and gas industry. The lease will make the existing 175,000-sf building fully occupied. The property also is home to MIT, the Smithsonian Astrophysical Observatory and the building's owner, locally based Draper Laboratory. The second building, designed by of Symmes, Maini & McKee Associates, of Cambridge and developed by Leggat McCall Properties LLC, of Boston, for Draper Laboratory is being constructed by John Moriarty & Associates. Upon completion, Schlumberger will take all but 62,000 sf of that property. The remaining space will be available for lease with rates ranging in the mid-$40 per-sf triple-net range.

Winters along with Dave Townsend and Juliette Reiter, also with Cushman &Wakefield's Boston office, represented the owner. Anne Columbia and Naomi Wattles of the Columbia Group of Boston represented Schlumberger.