For Immediate Release

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

PLEASANTON, Calif. — Hacienda, the largest Northern California business development of its kind, has continued its upward trend in occupancy through the second quarter of 2024. The vacancy rate dropped to a year-low of 14.47%, down from 15.03% at the close of the previous quarter. Year-to-date net absorption reached 104,899 square feet, nearly double the previous quarter's figure, marking a strong recovery from the negative 165,861 square feet recorded at the end of 2023. October also contributed to this positive trajectory, with total occupancy hitting a year-to-date high of 6,959,573 square feet, a month-over-month increase of 15,272 square feet. With additional deals expected to close in the fourth quarter, further improvements are anticipated for the remainder of 2024.

In August 2024, monthly occupancy began the quarter at 6,937,528 square feet and steadily increased, peaking at 6,959,573 square feet by October. The bulk of activity came from spaces under 10,000 square feet, which accounted for 95.71% of all transactions but comprised 38.19% of the total leased space. In contrast, larger spaces made up only 4.3% of deals but represented a significant 61.81% of the total leased space by the end of the third quarter.

Hacienda welcomed several prominent tenants last year, including ADP (which relocated within Hacienda), Shea Homes, Regional Parks Foundation, Walovich Architects Group and Inneos (also relocated within Hacienda). New tenants in 2024 include STN, Inc., a computer consulting firm, Stanford Health Care Cancer Clinic Pleasanton, K&A Engineering Consulting, The Bay Area Fencing Club, Sutter Health Medical Center, Sutter Health Care Center and ACCO Engineered Systems. The business services sector remains the largest space occupier, covering 1,523,088 square feet. Biomedical companies occupy 1,121,006 square feet, while software development and manufacturing claim 553,154 and 498,570 square feet, respectively. Additionally, key industries such as retail, hospitality, healthcare, education, and consumer goods further enrich the tenant mix, underscoring the wide range of employment opportunities across the Bay Area.

“Hacienda’s continued growth and success in 2024 highlight the vibrant business ecosystem we have built. With occupancy reaching new highs and vacancy rates hitting their lowest point of the year, Hacienda is thrilled to welcome a diverse range of new tenants who contribute to the strength of our community. Notable additions like STN, Inc., Sutter Health, Stanford Health Care Cancer Clinic Pleasanton and ACCO Engineered Systems, alongside long-standing tenants such as ADP and Inneos, demonstrate our appeal to a broad spectrum of industries, from healthcare to engineering and a variety of technological applications.” said James Paxson, Hacienda’s general manager. “These developments reinforce Hacienda’s role as a hub of innovation and opportunity, with business services, biomedical companies and technology firms continuing to thrive. The continued demand for space, especially in the smaller business segment, is a clear sign of the resilience and dynamic growth happening within Hacienda. With even more exciting deals expected to close in the coming months, we look forward to driving further economic progress and offering increased employment opportunities across the Bay Area.”

Population and Employment

By the end of the third quarter of 2024, Hacienda housed a workforce of 15,075 across 685 companies, a figure expected to rise with new developments and a return to pre-pandemic occupancy levels. 

Additionally, approximately 5,844 residents live within Hacienda's residential communities, with this number projected to reach 6,400 due to ongoing expansion efforts. 

Notably, 45.5% of Hacienda's residents are between the ages of 25 and 44 with over 52% earning annual incomes exceeding $150,000.

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

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 2020 US Census and 2022 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

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 over 675 companies employing approximately 15,000 people. In addition to being a hub for business, Hacienda also features homes for about 6,000 residents, offering a full spectrum of residential choices.

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