The space is located in a 130,000-sf, six-story building owned by New Boston Fund. Mitchell Jacoby and Chris Crooks of CRESA Partners Boston represented Icosystem in the transaction while Tad Lee of Meredith & Grew represented New Boston Fund.
Cambridge continues to be a city of two markets: a relatively healthy biotech market and a struggling office market. According to Spaulding & Slye Colliers' fourth quarter statistics for 2002, the city's availability rate is 22.1%. But a closer look at those numbers reveals that while the East Cambridge neighborhood has an availability rate of 21.9% and the Harvard Square/ Massachusetts Avenue neighborhood has an availability rate of 11.5%, the Alewife Station area's availability rate is 33.2%.
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