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WALTHAM, MA-Compound Therapeutics Inc. is relocating its corporate headquarters with a 17,500 sf lease at 100 Beaver St. The privately held biotechnology company is moving from 1365 Main St.

The new space represents an expansion from the company’s previous location. Compound Therapeutics was represented in the transaction by Jonathan Varholak and Michael Frisoli, partners at Richards Barry Joyce & Partners. The company is sub-leasing the space from Oscient Pharmaceuticals, which was represented by Spaulding & Slye Colliers. Oscient Pharmaceuticals was formed through the merger of Genome Therapeutics and Genesoft Pharmaceuticals.

“The building at 100 Beaver Street provides Compound Therapeutics with an excellent second-generation biotechnology space in the suburban market,” says Varholak. “They are also able to take advantage of the current market rates, while staying in Waltham, which is becoming a popular biotechnology center.”

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

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