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Published January 18, 2005

Volume 13, Number 1

Hacienda Leasing Increases in 2004
Ross Stores Headquarters and Kohl’s Lead Office, Retail Sectors

(left) The Ross Corporate headquarters can now be found at the CarrAmerica Corporate Center on Rosewood Drive. (right) Sport Chalet opened their Hacienda location last fall, providing one-stop shopping to sporting and recreation enthusiasts.

Hacienda leasing and construction both saw increases in 2004. On the office side, the way was led by Ross Stores, which leased nearly 150,000 square feet in the CarrAmerica Corporate Center for their corporate headquarters. The park also saw strong activity in mid-sized offices, with Richmond American Homes, the Dahlin Group, Commerce West Insurance Company, Option One Mortgage Corp., and Ocular Sciences all leasing offices in the 20,000 to 30,000 square foot range, with the Dahlin Group scheduled to undertake a substantial reconstruction effort on their new facility. Carden West School also had a sizeable lease at 45,000 square feet.

(left) The Dahlin Group's new headquarters is about to undergo substantial renovations. (center) Richmond American Homes has occupied over 20,000 square feet at 5075 Hopyard Road. (right) Option One Mortgage has leased 22,308 square feet at the Hacienda Lakes complex.

On the retail side, activity was centered around the construction of two new stores in the Metro 580 center, replacing two other structures. Kohl’s opened their new 88,248 square foot store this fall, just days after Sport Chalet’s new 34,609 square foot facility. Similarly, Mercedes Benz of Pleasanton acquired an existing building and reconfigured it into a 12,911 square foot showroom for pre-owned vehicles.

(left) Mercedes Benz of Pleasanton has a new home for pre-owned cars, their second showroom in the park. (right) Kohl's new Pleasanton location is one of seven the company opened in the Bay Area.

2004 continued a trend started in 2003 relating to the type of leasing seen. Nearly 85 percent of the transactions were in spaces less than 10,000 square feet. At the end of 2004, the park’s vacancy rate stood at 12 percent, both for office space and overall.

Summary of Major New Leasing Activity in 2004*

Ross Stores 149,664
Sport Chalet 34,609
1st United Services Credit Union 18,780
Carden West School 45,000
Richmond American Homes 24,092
Dahlin Group 20,241
Commerce West Insurance Co. 22,333
Kohl’s 88,248
Option One Mortgage Corp. 22,308
Ocular Sciences 25,600

*not related to lease renewals

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