Hacienda, Northern California’s largest mixed-use development, continued to strengthen its market position during the second quarter of 2026, supported by improving occupancy, positive net absorption, and continued leasing activity across a broad range of tenant sizes. Building on the momentum established earlier this year, the development benefited from new lease commencements, tenant expansions, and interest from companies across multiple industries. The quarter’s results reflect continued confidence in Hacienda as both an established regional employment center and a destination for businesses seeking room to grow.

Occupancy & Leasing Activity

Hacienda continued to build on its leasing momentum during the second quarter of 2026, with vacancy declining to 18.07%; a 2.25% improvement over the close of 2025. Occupancy also trended upward throughout the quarter, increasing from 6,660,548 square feet in May to 6,670,672 square feet in June before reaching 6,673,388 square feet in July. These steady gains reflect improvement in  market conditions and continued tenant confidence across the project.

Year-to-date net absorption has strengthened, approaching 200,000 square feet. The positive results have been driven by new lease commencements, tenant expansions, and a good pipeline of occupancy gains across the property.

Leasing activity during the quarter demonstrated sustained demand across multiple tenant segments. Spaces under 10,000 square feet accounted for more than 81% of all completed transactions, highlighting continued activity among small and mid-sized businesses. Mid-sized leases ranging from 10,000 to 50,000 square feet represented approximately 22% of the total leasing volume, while transactions exceeding 50,000 square feet, though limited in number, accounted for nearly 63% of all square footage leased. This balanced mix of transaction sizes underscores Hacienda’s ability to attract both entrepreneurial firms and major corporate users.

Several notable transactions further strengthened Hacienda’s tenant roster during the first half of the year. AEye, Inc. established its signature headquarters at Hacienda, while The Wine Group signed a new lease at Hacienda Terraces. Existing tenants also continued to invest in the development, with OPM Biosciences expanding into a second location and adding 20,000 square feet, while W.E. O’Neil relocated and grew its footprint to approximately 7,200 square feet. These commitments illustrate Hacienda’s continued ability to support both new tenants and existing companies as their space needs evolve.

The Wine Group’s arrival is a particularly notable addition. The second-largest wine producer in the world by volume, the company crafts more than 125 brands—including Meiomi, Woodbridge, Robert Mondavi Private Selection, Cupcake, and Franzia—and is marking its 45th anniversary as a private, management-owned company in 2026. In April, The Wine Group selected Hacienda as the new home for its corporate center, relocating from its previous Livermore office. The space, scoped for approximately 50 team members and designed with several meeting rooms to support greater collaboration, will primarily serve corporate roles within the Marketing department, along with team members across Human Resources, Sales, Finance, Legal, IT, and the company’s Executive Leadership Team. The relocation is expected to be complete by early September.

“The second quarter continued the positive trajectory seen this year, with improvements in occupancy, healthy leasing activity, and meaningful expansion from existing tenants,” said James Paxson, General Manager of Hacienda. “It’s especially encouraging to see companies choosing not only to locate at Hacienda but to grow here as their businesses evolve. Combined with continued interest from larger users and a diverse mix of industries, these trends reinforce Hacienda’s position as one of the Bay Area’s premier business locationsand provide a solid foundation for continued progress through the remainder of 2026.”

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

Images courtesy of Hacienda Owners Association.