Oregon-based healthcare solutions provider PacificSource reportedly announced that it will be purchasing the Symantec building situated at the 555 International Way in Springfield Oregon. Sources cite that the 400,000 sq. foot campus purchase is scheduled to conclude in October.
With this purchase the healthcare provider reportedly intends to consolidate its employees who currently work in two different locations inside Lane County.
PacificSource President and Chief Executive, Ken Provencher stated that the Symantec building offers more space than PacificSource’s current Springfield and Eugene offices combined. Provencher further added that the new location will easily accommodate the current staff while still leaving plenty room for new employees as the company continues to grow.
The healthcare company reportedly intends to occupy around 200,000 sq. foot of the campus – only half of the area offered by the building. PacificSource apparently does not have a concrete schedule based on which it will start moving its employees to the new workspace, but it estimates that the move will happen sometime in 2019.
According to an official press release, following the completion of the sale Symantec will be leasing around 40,000 sq. feet of workspace from PacificSource to continue its operations through the same building.
This sale reportedly demonstrates the amount of shrinkage the Mountain View, California-based tech company has experienced over the years. Symantec during its prime was reportedly classified as one of the largest employers in USA, employing an estimated 1400 individuals in its Springfield campus alone. Sources claim that through a series of lay-offs that number has now dwindled down to about 200.
A spokeswoman from Symantec reportedly stated that the sale is part of the company’s global real estate strategy. She further stated that the company will remain as tenants in the Springfield campus and continue to operate through the building unhindered.
A PacificSource spokesperson stated that the company is still ambiguous regarding whether to sell or lease its current 64,000 sq. foot Springfield headquarters. The spokesperson further commented that the two companies are still working on the terms of the lease.