The new space represents an expansion from the company'sprevious location. Compound Therapeutics was represented in thetransaction by Jonathan Varholak and Michael Frisoli, partners atRichards Barry Joyce & Partners. The company is sub-leasing thespace from Oscient Pharmaceuticals, which was represented bySpaulding & Slye Colliers. Oscient Pharmaceuticals was formedthrough the merger of Genome Therapeutics and GenesoftPharmaceuticals.

"The building at 100 Beaver Street provides CompoundTherapeutics with an excellent second-generation biotechnologyspace in the suburban market," says Varholak. "They are also ableto take advantage of the current market rates, while staying inWaltham, which is becoming a popular biotechnology center."

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