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CAMBRIDGE, MA-In some good news in an otherwise still grim market, two leases were signed for 100 CambridgePark Dr., bringing the total occupancy in the building up to 88%. Average lease rates in the building are at $29 per sf. The figure is sobering when compared with the deal Commerce One did over two years ago at the height of the market, when it took space for $55 per sf.

Deltek Systems Inc., a provider of application software and solutions to project businesses and professional services firms, signed a lease for 30,662 sf and CambridgeSoft Corp., a supplier of Internet browser and webserver based life science desktop software, enterprise solutions, chemical databases and consulting services to the biotechnology, pharmaceutical, and chemical industries, has signed a lease for 15,877 sf.

Albert J. Corr, vice president of Berwind Property Group, worked with the Cushman & Wakefield team of Mark Winters and David Townsend. Joe Flaherty and Tucker Hansen of Meredith & Grew represented Deltek Systems. CambridgeSoft’s deal was a five-year renewal of its lease.

The 135,572 sf five-story building was constructed in 1990 by Spaulding & Slye Colliers and acquired by CambridgePark Investors Limited Partnership, an affiliate of Berwind Property Group seven years later. According to Corr, the building was fully leased when Berwind bought it, but in January 2001 American Express vacated three full floors or 100,000 sf. Commerce One took one of those floors for a few months until it went under leaving a hole that Deltek is now filling.

A few months ago, Cambridge Systematics took about 29,000 sf in the building and Cambridge Savings Bank took 15,000 sf. Corr tells GlobeSt.com that the building has less than 20,000 sf left to fill, an impressive feat in a market with overall availability rates in the mid 20% range. Corr points out that the other two buildings in this office park–125 CambridgePark Dr. and 150 CambridgePark Dr.–both have pretty large blocks of space to fill, most specifically the latter, where Genuity vacated three floors.

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