For Immediate Release

Contact: James Paxson, General Manager
Hacienda Owners Association
(925) 734-6500

PLEASANTON, Calif. — Hacienda saw a 1.14% decline in occupancy in the third quarter over the end of the second quarter. Overall vacancy at 15.76% is now just over two percent greater than the close of 2022 but less than the 16.04% vacancy seen at the end of the first quarter. The major contributing factor to these changes has been the broad shift in the demand for office that has resulted in large releases of space being made available by some existing tenants. Regional market activity remains temperate although there have been some increases in inquiries and prospective investigations into new leases. However, the path to reducing vacancy in currently available office space remains uncertain at best. 2023 has continued to see no new investment sales and none are currently anticipated. Additional stabilization in market demand coupled with stabilization in the financial markets are key to seeing a return of occupancy and investment. The park is the largest mixed-use development of its kind in Northern California.

“Net absorption is still down from the close of 2022 and has remained relatively constant since April. This is also reflected in the amount of overall activity and inquiry that has occurred over the last six months which has been modest at best,” stated James Paxson, Hacienda's general manager. "Office space continues to be the most challenging product to fill. Questions remain about the patterns of occupancy that will develop as new work models emerge post-pandemic and what each individual type of business sees as its office need in the future. This has been further complicated by the availability and cost of capital for business which appears to be slowing down the realization of some of the demand that might otherwise be present. While there has been a slight increase in interest, all opportunities for occupancy are highly competitive and the need to demonstrate value for business investment in office space has never been more important."

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

• 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

• 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 2019 American Community Surveys}

• Valuation {Summary of valuation}

Projects and Tenants

• Property Profiles {Summary of project specific information}

• Business Directory {Summary of businesses located in Hacienda}

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 630 companies that locally employ over 15,700 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.

Contact Information

Hacienda Owners Association
4305 Hacienda Drive, Suite 330, Pleasanton, California  94588-2738
(925) 734-6500 phone     (925) 734-6501 fax
info@hacienda.org e-mail     www.hacienda.org WWW