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Avis Budget To Acquire Zipcar For $500M

35 Thomson Zipcar will soon be a subsidiary of rental car firm Avis Budget, once Avis’ $500 million purchase of the car-sharing company is finalized this spring.

Zipcar made commercial real estate headlines when the firm agreed to lease more than 45,000 square feet at 35 Thomson Place in Boston, reported first by Banker & Tradesman.

Zipcar was founded in Cambridge in 2000, but the allure of cheaper rents pulled the company south to Boston’s so-called Innovation District. The company will move more than 200 employees to the new headquarters next year, which is owned by Crosspoint Assoc.

Zipcar has more than 760,000 members in 20 major cities and 300 college and university campuses in the U.S., Canada and Europe, according to a news release from Zipcar.

Commercial & Industrial