Stion is currently housed in 11,000 sf at 3603 Haven Avenue. Itsnew space is at 6321 San Ignacio Ave., a building that waspreviously owned and occupied by IBM and is now owned by publiclyheld Mission West Properties of Cupertino. A Stion official was notimmediately available Monday for comment.

Sherry Gubera, one of two Cornish & Carey brokers whorepresented Stion, tells GlobeSt.com that Stion took the one-storybuilding "as is" and is now having a third party build out thespace. The lease commences in June, when the space is expected tobe ready for full occupancy, says Gubera, who worked on the dealwith fellow C&C broker Jay Phillips.

Gubera declined to confirm the negotiated lease rate, which onelocal source tells GlobeSt.com starts at approximately $0.70 persf, triple net, but did acknowledge that the lease rate was "belowmarket." The asking rate for comparable space in the area istypically just under $1 per sf, she says.