PLEASANTON, Calif. — The effects of the disruptions to the normal business cycle caused by the Covid-19 pandemic continue but appear to be normalizing to some degree. Tenant transactions increased slightly for the quarter but were still accompanied by departures in excess of new activity. As with the prior quarter, new tenant interest has continued to grow and additional tenant leasing is expected as a result. Over 90,000 square feet of transactions have occurred to date since January 1; however, net occupancy has declined by an additional 0.45% since the end of the last quarter. The park is the largest mixed-use development of its kind in Northern California.
“Hacienda’s second quarter continues to see the lingering effects of the pandemic. There has been a decided improvement in business activity since the state opening on June 15th but it has been gradual. While there have been transactions completed since the beginning of the year, departures are still slightly in excess of these gains. We continue to be encouraged by the amount of discussion that is happening regarding new leases as well as new investment, and believe that as the economy starts to re-open more fully we will see additional interest and transactions as a result” stated James Paxson, Hacienda’s general manager. “While the specific path to recovery may not be entirely evident at the moment, an eventual return to pre-pandemic conditions is not unreasonable given the fundamentals of the economy and the strengths of the region.”
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.
- Major Tenant Transactions
- Land Use Summary
- Demographics (Area and Community)
Projects and Tenants
- Property Profiles
- Business Directory
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 675 companies that locally employ nearly 20,000 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.