WebEx Communications, a provider of Web communication services, has signed a 10-year lease agreement for 161,000 square feet of office space in Santa Clara, Calif.

The value of the transaction was not disclosed.

DivcoWest owns the property, Mission Towers II, which had been recently completed and was unoccupied at the time it was acquired.

Under terms of the lease, believed to be the largest new lease executed so far this year in Silicon Valley or on the Peninsula, WebEx will occupy 60 percent of the class A tower. The property will also be renamed “WebEx Tower” and be home to the Bay Area firm’s world headquarters.

Rob Paratte, and John Moe, of DivcoWest Properties along with Randy Gabrielson, Jack Troedson and Phil Mahoney of Cornish & Carey represented the landlord in the transaction. Jon Condrey of Colliers represented the tenant. 

DivcoWest, formed in 1993 by David Taran and Stuart Shiff, acquires, manages and leases commercial properties.

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