Published January 20, 2004
Volume 12, Number 1

New Construction, Changing Leasing Patterns, Increased Absorbtion Sum Up 2003 for Hacienda

2003 will likely be seen as a transitional year for Hacienda. While nearly 230,000 square feet of new space was completed and no new construction commenced, the year saw a significant increase in planning for redevelopment and expansion of existing facilities.

The year also saw a huge resurgence in leasing activity to smaller tenants. Transactions involving space of less than 10,000 square feet accounted for over 90 percent of all leasing with a total of over 530,000 square feet of new leases commencing in 2003. At the close of the year the park's vacancy rate was 14.9 percent for office space and 14.4 percent overall.

Hopyard Plaza
Chamberlin Associates' beautiful Hopyard Plaza project was completed
in 2003. The project has already secured Intero Real Estate Services,
Financial Title Company, and Marina Mortgage.

CarrAmerica Corporate Center
The corporate headquarters for Ross Stores will move
into the CarrAmerica Corporate Center in 2004.

Completed in 2003
Hopyard Plaza Hopyard Road 44,250
PeopleSoft Owens Drive 185,702

Diablo Center
Massie Research Laboratories occupied 16,251 square feet on West Las Positas Boulevard.

PeopleSoft completed construction on the latest addition to their
Hacienda campus. The new facilities added 185,702 square feet
to their holdings within the park.

Inglewood Place
Remedy consolidated several Hacienda facilities with their move into
Inglewood Place at 5960 Inglewood Drive.

ADT, the security systems company, leased 19,000 square feet on Willow Road.

Summary of Major New Leasing Activity in 2003
(not related to new construction or lease renewals)

Ross Stores Rosewood Drive 149,664
Remedy (consolidation into new space) Inglewood Drive 78,000
ADT Willow Road 19,000
Massie Research Labs W. Las Positas Blvd. 16,251
Alacritus Software Hopyard Road 11,067

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