PLEASANTON, Calif. — Hacienda is reporting a continued inflow of tenants for the first half of 2015. Nearly 413,000 square feet of transactions occurred in Hacienda during the first half of the year improving net absorption by around 123,000 square feet. The park is the largest mixed-use development of its kind in Northern California.
“The first half of 2015 has been very strong in terms of tenant arrivals and expansions, and the signs are good for continued vacancy reductions as we move into the second half of the year” said James Paxson, Hacienda’s general manager. “Office vacancy has declined by 3.6% since the end of last year and the third quarter has already seen over 72,000 sf of additional activity.”
Several notable transactions occurred in the first half of 2015. Major commitments were made by companies in a variety of business segments, including: Gap Inc. (Consumer Goods), SmartZip (Real Estate Services), and Party City (Retail).
A number of large construction projects, related to recent tenant activity, are currently in progress in Hacienda. Work is under way on improvements for Veeva, the Rosewood Commons facility, Axis Community Health, and a project for the Tenet/John Muir joint partnership. In addition, Hacienda received approval for a new residential development during the first half of 2015. The recently approved Summerhill project will see the creation of 94 quality condominium units joining the Anton Hacienda and two Essex projects that are currently under construction.
The following overview provides information on the most recent Hacienda activity pertaining to occupancy, tenants, sales and regional data of interest. Please also refer to selections found under the Project Overview section of our web site for related information.
Projects and Tenants
Hacienda is the largest development of its kind in Northern California. Over 10 million square feet of existing, mixed-use space is occupied by some 660 companies that locally employ approximately 19,000 people. Hacienda’s businesses represent the best and the brightest of contemporary corporate America and provide the home to everything from small offices to regional centers to large campuses for company headquarters. In addition, Hacienda also features homes to some 4,300 residents. Residential developments also provide a full spectrum of choices from stylish rental units to single family detached homes.