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BEAVERTON, OR-Open Source Development Labs Inc. has signed a lease for 12,500 sf in a 90,000-sf four-story office building that anchors The Round, a new retail, commercial and residential community built around a light rail station in Downtown Beaverton.OSDL is a non-profit global consortium of leading technology companies dedicated to accelerating the adoption of Linux in enterprise computing. The company is relocating its headquarters from about 11,000 sf in an older one-story tilt-up building at 15275 SW Koll Parkway, also in Beaverton.

A source at OSDL tells GlobeSt.com says the move is taking place because the operation needs more conference space, a better layout for its lab space and more convenient access to light rail. “We’re funded mostly by folks in the Silicon Valley, and it’s a big deal for them to be able to hit the airport, come straight out here on (light rail) and turn around and go home,” says the source. “It’s also a nice, new facility that came out the most desirable and cost effective when we compared to several other options we had.”

Buzz Ellis, the broker with the leasing assignment for the office building, tells GlobeSt.com that about 48,000 sf is still available in the building, including 16,000 sf on the second floor, 10,000 sf on the fourth floor and all of the 22,000-sf the fifth floor. The first floor of the office building is leased by Coldwell Banker and the third floor is master leased by the developer, Dorn-Platz of Glendale, Calif., which has set up an executive suites operation. The annual full-service asking rate for space in the building was recently listed in the low $20s per sf, but deals are reportedly being signed at rates in the high teens per sf.

Dorn-Platz paid $2.3 million last summer for the rights to 8.5-acre development that had stood half built and rusting since 1999. The seller was the City of Beaverton and Enron Microclimates, which gained control of the property in bankruptcy court after the original developers, Selwyn Bingham and Sylvia Cleaver, ran out of money.

Dorn-Platz has since finished developing a 90,000-sf office building and one residential over-retail building, and a second residential-over-retail building is about to get underway. At least one more office building is planned, but its development will be dictated by the market, according to Cherie Henry, project manager for the developer. The overall project will be valued at between $80 million and $100 million upon completion, says Henry.

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