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Teledesic
Looking to Move to Smaller Offices
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Teledesic,
Bellevue, Washington, trying to conserve cash reserves, is planning
to sublease 72,000 square feet of its office space. Teledesic moved
into its remodeled warehouse space in June 1999 with 115 employees,
but they have since downsized to 75.
The company wants
to move from its 72,000-square-foot headquarters to a building in
the 15,000- to 20,000-square-foot range. Teledesic has not disclosed
its subleasing rate.
Teledesic's current
facilities, known as the Broadband Center, features 27 conference
rooms, a private garden patio, an in-house Tully's Coffee shop,
30-foot-high ceilings, large skylights, a game room, locker rooms,
an Internet data center, and can house between 200 and 240
employees. The site also includes 58,000 square feet of undeveloped
warehouse space that has at times served as an indoor parking lot
and basketball court. An additional 18,000 square feet of vacant
office space in the building was previously occupied by
HomeGrocer.com, which has been acquired by Webvan.
The
5.5-acre site is owned by Martin Smith Real Estate and investor Ken
Alhadeff.
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