Hacienda, Northern California’s largest mixed-use development, continued to demonstrate steady leasing performance during the third quarter of 2026, supported by declining vacancy, positive year-to-date net absorption, and sustained demand across a diverse range of tenant sizes. Occupancy increased toward the end of the quarter, while new lease commencements and tenant expansions contributed to continued absorption gains. With activity spanning smaller businesses and larger corporate users, Hacienda continues to demonstrate its ability to accommodate evolving business needs and reinforce its position as a leading regional employment center.
Occupancy & Leasing Activity
Hacienda maintained positive leasing momentum throughout the third quarter of 2026, with vacancy improving to 17.94%, down from 18.07% at the end of the second quarter. This quarter-over-quarter decline indicates continued progress in reducing vacant space across the project. Occupancy levels remained steady, rising slightly from 6,657,075 square feet in August to 6,657,733 square feet in September to 6,688,939 in October. Overall, these trends suggest a stable leasing environment and sustained tenant demand across the Hacienda project.
Year-to-date net absorption reached a positive 205,432 square feet through the third quarter of 2026, exceeding the approximately 200,000 square feet recorded in the previous quarter. This positive trend has been supported by new lease commencements, tenant expansions, and continued progress in increasing occupancy across the property.
Leasing activity during the third quarter of 2026 reflected continued demand across a range of tenant sizes. Spaces under 10,000 square feet accounted for 86.36% of completed transactions, highlighting the continued importance of small and mid-sized businesses to overall leasing activity. Leases ranging from 10,000 to 50,000 square feet represented approximately 9.09% of transactions, while leases exceeding 50,000 square feet accounted for more than 52% of total square footage leased, despite representing a smaller share of completed deals. This diverse leasing mix demonstrates Hacienda’s ability to accommodate a broad spectrum of tenants, from smaller businesses to larger corporate occupiers.
As highlighted in previous reports, Hacienda recorded several significant leasing milestones during the first half of 2026. AEye, Inc. selected Hacienda for its signature headquarters, and The Wine Group secured space at Hacienda Terraces. Leasing activity also reflected continued investment from current occupants, as OPM Biosciences added a second location encompassing 20,000 square feet, while W.E. O’Neil relocated to a larger space of approximately 7,200 square feet. Together, these commitments demonstrate the development’s ability to meet a range of tenant requirements and support business growth over time.
Hacienda also recorded two notable sales so far in 2026. Pleasanton Labs sale amounted to 296,537 square feet, followed by HYATT house totaling 91,157 square feet. Development highlights this year include Avalon Pleasanton, which is under construction with 336 residential units, and the completion of L’Academy School, a 6,157-square-foot facility.
“The third quarter reflected continued progress in Hacienda’s leasing performance, with vacancy declining, net absorption remaining positive, and occupancy holding steady with modest gains,” said James Paxson, General Manager of Hacienda. “We continue to see demand across a range of tenant sizes, from smaller businesses to larger corporate users, demonstrating the strength and versatility of our business community. These results position Hacienda well as we move into the final quarter of 2026 and remain focused on building occupancy and supporting the evolving needs of our tenants.”
Tenant Mix & Industry Trends
Hacienda maintains a broad and balanced mix of tenants, underscoring its importance as a major employment center for both the Tri-Valley region and the greater Bay Area. Business services account for the largest share of occupied space at approximately 1,787,484 square feet, followed by biomedical companies with 1,012,707 square feet. Manufacturing and healthcare organizations occupy 473,301 and 404,695 square feet, respectively. In addition to these leading sectors, Hacienda is home to a diverse range of retail, hospitality, software, education, and consumer-focused businesses, further strengthening the park’s economic diversity.
Population and Employment
At the end of the second quarter of 2026, Hacienda had approximately 15,400 employees across 696 companies. This number is anticipated to grow as new tenancy develops and occupancy rates approach pre-pandemic levels.
Additionally, Hacienda’s residential communities currently have approximately 5,400 residents, a figure that is expected to increase to 6,400 with the creation of new housing developments.
As of the 2020 U.S. Census, the region’s population was 400,213. 60% of Tri-Valley residents hold a bachelor’s degree or higher, surpassing the educational attainment levels of both California and the broader Bay Area. This concentration of skilled professionals contributes to a robust labor force, making the Tri-Valley an attractive location for employers seeking top talent. In terms of demographics, 45.4% of residents are aged between 25 and 44, and over 58% report annual incomes exceeding $150,000. The region’s high quality of life, characterized by natural beauty, tight-knit communities, and top-notch schools with a graduation rate of 97%, further enhances its appeal to innovators and business leaders.
City of Pleasanton
Pleasanton’s demographics reveal a highly educated workforce, with over 85% of residents having attended college and nearly 70% holding a college or professional degree. The city also enjoys a high household income, with over 75% of households earning more than $75,000 annually. Pleasanton is a young city, with nearly a third of the population under 19 and over a quarter aged between 20 and 54, indicating a substantial portion of residents in their prime career years. The city boasts a rich history and character showcased in its picturesque downtown, reflecting its commitment to a high quality of life. Hacienda exemplifies this with its excellent educational facilities, abundant recreational activities, and a favorable climate for enjoying sports facilities, parks, and golf courses.
Hacienda Overview
This overview offers the latest information on Hacienda’s occupancy, tenant updates, sales, and regional data of interest. For additional details, please consult the Project Overview section on our website.
Park Activity
- Occupancy and Major Tenant Transactions (Summary of occupancy information and major tenant activity)
- Development (Summary of development approvals and project construction information)
- Sales (Summary of project sales)
General Park Information
- Population (Summary of employee and residential population)
- Land Use (Summary of activity by land use)
- Demographics | Area and Community (Summary of demographic characteristics from 2010 US Census and 2019 American Community Surveys)
- Valuation (Summary of valuation)
Projects and Tenants
- Property Profiles (Interactive summary of project-specific information)
- Business Directory (Summary of businesses located in Hacienda)
About Hacienda
People come to the San Francisco Bay Area for many reasons: a spectacular natural setting, a sophisticated lifestyle, and unique professional opportunities. Quality of life means having the best of everything within easy reach, whether it’s world-class restaurants, theater and museums, the best learning institutions in the country, or some of the finest services available.
Quality of life applies to business, too: having easy access to needed resources, being among other industry leaders, and knowing that you are part of a region that leads the world in innovation. When working and living environments both enhance quality of life, the result is an unbeatable combination that leads to success; and that is what you will find at Hacienda.
Centered in a dynamic region and propelled by the Standard Metropolitan Statistical Areas of San Jose, Oakland, and San Francisco, the Bay Area is a robust economic region. Hacienda, located near the center of the Bay Area in Pleasanton, spans 875 acres and is home to nearly 700 companies employing more than 15,400 people. In addition to being a hub for business, Hacienda also features homes for about 5,400 residents, offering a full spectrum of residential choices.
Contact Information
For more information about Hacienda and our latest developments, please contact:
Hacienda Owners Association
4305 Hacienda Drive
Suite 330
Pleasanton, Calif. 94588-2738
T: (925) 734-6500
E: info@hacienda.org
W: hacienda.org | LinkedIn | Hacienda Online
