Hacienda Sees Increased Vacancy But Also Increased Activity

Hacienda, Pleasanton

PLEASANTON, Calif. – Alterations to the normal ingress and egress of tenant activity as a result of disruptions caused by the Covid-19 pandemic and related response measures have continued to be weighted toward departing tenants while simultaneously slowing the arrival of new tenants. As a result, vacancy rates have increased. However, the last month has also seen a significant increase in tenant interest which is expected to result in some rebound in occupancy over the coming months. Around 37,000 square feet of transactions have occurred to date since January 1; however, net occupancy has declined since December 31, 2020. The park is the largest mixed-use development of its kind in Northern California.

“Hacienda’s first quarter continues to see the lingering effects of the pandemic resulting in increased vacancies in Hacienda’s office and flex buildings. However, recent inquiries suggest that there has been some pent up demand that is finally starting to move forward. We believe that as the economy starts to re-open, we will continue to see additional interest and activity as a result. While this interest in Hacienda is expected to result in overall net increases in occupancy over time, near-term activity will continue to be tempered by businesses examining and adapting to new work conditions and new work models” notes James Paxson, Hacienda’s general manager. “We are generally encouraged by what we have heard about prospective tenants and have also been pleased to see new arrivals in our retail projects. We are likewise encouraged by the sales activity that is also starting to resume. Collectively, these signals affirm the value that people find in a Hacienda location.”

Overview
The following overview will provide you with 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.

Park Activity

General

  • Population {Summary of employee and residential population}
  • Land Use Summary {Summary of activity by land use}
  • Demographics (Area and Community) {Summary of demographic characteristics from 2010 US Census and 2014 American Community Surveys}
  • Valuation {Summary of valuation}


Projects and Tenants

About Hacienda
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 680 companies that locally employ over 18,000 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 approximately 6,000 residents. Residential developments also provide a full spectrum of choices from stylish rental units to single family detached homes.

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