For Immediate Release

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

PLEASANTON, Calif. — Hacienda, the largest business development of its kind in Northern California, is beginning to see some rays of improvement in the occupancy figures recorded in the last month of 2023. An overview of the year is now available.

Occupancy and Leasing

While quarter-over-quarter figures showed a slight decrease in availability, going from 15.76% in the third quarter to 15.73% in the fourth quarter, the results for the year saw a negative 165,851 square feet of net absorption. December saw an increase in occupancy, which hopefully heralds more good news at the start of 2024; the total occupancy in December came to 6,854,674 square feet, which is a 27,466 square-foot increase from the previous month.

Overall, the monthly occupancy in January 2023 kicked off the year at 7,028,641 square feet and fluctuated slightly over the course of the year, bottoming out at 6,827,208 in November. Most of that activity came from available space under 10,000 square feet, which accounted for 80.85% of all transactions and 33.85% of the total volume of leased space. Conversely, 19.15% of deals were in larger spaces, accounting for 66.15% of all space leased during the year.

Some notable tenants that leased space at Hacienda last year include ADP, Shea Homes, Regional Parks Foundation, Walovich Architects Group, and Inneos. The business services sector comprised the largest portion of the leasable space, capturing 1,523,088 square feet. Biomedical companies accounted for 1,121,006 square feet, software development occupies 553,154 square feet, and manufacturing takes up 498,570 square feet. Other notable industries include retail, hotels, health, education, and consumer goods, providing a diverse group of tenants that showcases the wealth of employment opportunities across the Bay Area.

"In the ever-evolving landscape of Hacienda, we witness the resilience and growth of a dynamic business community,” said James Paxson, Hacienda’s general manager. “As we close 2023 with a promising increase in occupancy, reflecting a diverse array of tenants from ADP to Inneos, Hacienda stands not just as a key Northern California business location but as a flagship opportunity for business growth and development in the region.”

Population and Employment

At the end of the year, Hacienda employed 15,575 employees across 634 companies. This figure could grow to as many as 28,000 employees once all future developments are completed and the occupancy rate returns to levels seen prior to the COVID-19 global pandemic.

Simultaneously, approximately 5,844 people call Hacienda their home, living in the residential developments within the park. This number is expected to increase to 6,400 in the near future with additional residential expansion opportunities already in development.

The population comprising individuals aged 25 to 44 represents about 44.5% of all residents at Hacienda. Additionally, just over 52% of all residents earn over $150,000 per year.

City of Pleasanton

Pleasanton's rich history and character are vividly embodied in its picturesque downtown and the city's commitment to a high quality of life, evident at Hacienda, which includes excellent educational facilities, numerous recreational activities, and a favorable climate for enjoying sports facilities, parks, and golf courses. The Pleasanton Unified School District is among California's best, with several schools in the state's "Distinguished Schools" program, and proximity to top-ranked colleges such as UC Berkeley, Las Positas College, and Golden Gate University offers a variety of majors and courses, especially for working adults. Demographically, Pleasanton features a highly educated workforce, with over 85% of residents having attended college and nearly 70% holding a college or professional degree, complemented by a high household income where over 75% earn over $75,000 annually. The city is young, with nearly 30% of the population under 19 and over 25% aged between 20 and 54, indicating a substantial portion in their prime career years.

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 630 companies employing approximately 15,700 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