By Natalie Nagy
ValleyCare, a Stanford-led healthcare organization, is looking to expand its presence in the Bay Area. According to reporting from Mercury News, ValleyCare bought a 197,167 square foot, five-building office complex in Pleasanton for $58.4 million, or $296 per square foot. Schnitzer Properties, an Oregon-based real estate development and investment firm, was the seller in the transaction.
The property, also referred to as Hacienda Lakes, is located at 4234 and 4256 Hacienda Drive; 4457 and 4473 Willow Road; and 5568 Gibraltar Drive, according to a marketing brochure for the property circulated by CBRE. According to a landing page for the property on Schnitzer Properties’ website, office spaces at the campus range from 2,500 square feet to 22,000 square feet. The property amenities include tenant-identifying monument signage opportunities, park-like campus settings and shower facilities. Inside features of the building also include natural light and views from the floor-to-ceiling windows.
The Hacienda Lakes office campus is bounded by Willow Road, Inglewood Drive, Hacienda Drive and Gibraltar Drive with easy access to the 580 and 680 freeway interchange, providing tenants with immediate access to many restaurants and retail services.
Stanford Health Care acquired ValleyCare in 2015. According to Stanford Health Care’s website, the organization seeks to provide ill patients with diagnosis and treatment. In 2021, Stanford Medicine was ranked in the top 10 percent for both inpatient and outpatient care among peer academic medical centers by Vizient, Inc.
While it is unclear at this time how ValleyCare intends to use the office campus, the healthcare organization also has properties nearby at 5555 W. Las Positas Boulevard and 5725 W. Las Positas Boulevard, among several others.