New Construction, Changing Leasing Patterns, Increased Absorption 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.

Completed in 2003

Hopyard Plaza

Hopyard Road

44,250 sf

PeopleSoft

Owens Drive

185,702 sf

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

Ross Stores

Rosewood Drive

149,664 sf

Remedy (consolidation into new space)

Inglewood Drive

78,000 sf

ADT

Willow Road

19,000 sf

Massie Research Labs

W. Las Positas Boulevard

16,251 sf

Alacritus Software

Hopyard Road

11,067 sf

Photo: (top to bottom)
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.
The corporate headquarters for Ross Stores will move into the CarrAmerica Corporate Center in 2004.
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.
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.

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