Parsons, provides technical and management Solutions to federal, regional and local government agencies as well as Private industries worldwide. Colliers, representing Parsons, worked directly with the landlord, Divco West Properties. The lease rate has not been disclosed.
According to Colliers' third quarter market report, the economic slowdown and ripple effect from the Sept. 11 attacks have taken their toll in Silicon Valley. The current availability rate for the third quarter is 13.65 percent, compared with 10.49 percent at the end of the second quarter of 2001.
However, the report states, "in every cloud there is a silver lining. The silver lining in this commercial real estate market is that we are rapidly approaching a time of unique opportunity. In fact, we might be right in the middle of it and not even know it. Companies like Interwoven, Macrovision, Marvell Semiconductor and Stryker Corp. are taking advantage of opportunities in the marketplace and making deals now."
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