Published February 19, 2002
Volume 10, Number 2
PeopleSoft to Add Five-Story Facility to Campus
180,000 Square Foot Building to be the First of Three Planned Offices
This land — bordered by I-580, BART, and PeopleSoft's headquarters campus
on Owens Drive — will be the site of the company's next expansion.
By Jay Hipps
Continuing a development plan that was first announced in 1998, PeopleSoft will soon begin construction on a five-story, 180,000 square foot office building adjacent to their current campus.
The new facility, which will be built on the north side of Owens Drive adjacent to their building at 4460 Hacienda Drive, will mimic the company's facilities at 4411 and 4433 PeopleSoft Parkway. Those buildings, also five stories and 180,000 square feet, were the first phase of an expansion plan that was outlined in 1998, after the company purchased 38.25 acres of land in Hacienda.
Construction is expected to begin in the next two months and should be completed in the third quarter of 2003. Two additional buildings have been approved for the site, which is also bordered by I-580 and the East Dublin/Pleasanton BART station, but construction plans have not been announced.
A Strong Balance Sheet
The announcement comes on the heels of reports of record earnings by the company. Revenues for 2001 increased by 19 percent to $2.07 billion, the company's highest total ever.
"The year 2001 was an exceptional year of financial performance for PeopleSoft, including record total revenue, record income from recurring operations, and more than $500 million of cash and investments generated," says PeopleSoft president and CEO Craig Conway. "At the same time, we introduced many successful new product lines and are well positioned to continue to gain market share and lead the industry in 2002."
The company's strong financial performance is one reason why the new facility will be built now, according to John Lucas, PeopleSoft vice president of Real Estate and Facilities.
"We decided to build this structure after reviewing the current economic strength of the company, future business development plans, and projected employee headcount growth," he says. "We also took into account current lease obligations and expirations, and the most cost-effective way to provide work space for our employees."
PeopleSoft has approximately 2,300 employees working in their Hacienda campus now, with another 1,000 employees working in leased space nearby. The new facility will accommodate 800 employees, some of whom will move from the leased space.
Six Years in Pleasanton
PeopleSoft first moved to Hacienda in 1996 and has expanded rapidly ever since. The company began construction of two, four-story buildings at 4450 and 4460 Hacienda Drive in 1997, then purchased 38.25 additional acres in 1998. After completion of the new project, the company will own approximately one million square feet of property in Hacienda.
Also in this issue ...
- PeopleSoft to Add Five-Story Facility to Campus
- Test Technology Associates Keeps Designs in Line
- Business Bits
- Executive Profile: Ray O'Connor, Topcon Positioning Systems
- Puritan Bennett
- C&K California Classic Catering
- Pleasanton Police Department Security Programs for Businesses
- Tri-Valley CVB Introduces New Director
- RIDES Offers $500 Incentive to New Vanpools
- Valley Children's Museum Gala
- Hacienda Index
- Thanks to Holiday Food Drive Participants