Volume 14, Number 1
Hacienda Leasing, Acquisitions Increase in 2005: Tanner Insurance, DirectBuy, SwimOutlet Lead Leasing
Kaiser Permanente's IT department is now used in nearly 400,000
square feet of facilities.
Hacienda saw a good deal of activity in 2005. The largest transaction of the year was the purchase of a nearly 400,000 square foot complex by Kaiser Permanente for their IT department. Simpson Strong-Tie also purchased a 90,000-square foot facility on West Las Positas Boulevard for use as their corporate headquarters and Extended Stay Deluxe purchased a hotel on Chabot Drive. On the leasing side, Hacienda saw an increase in the number of transactions over the last two years, led by Tanner Insurance, DirectBuy, and SwimOutlet, all leasing over 20,000 square feet of space.
(left) Simpson Manufacturing purchased these buildings this year. The "strong floor" seen under
construction, will be used in stress testing of the company's products.
As in 2003 and 2004, the vast majority of lease transactions were in spaces less than 10,000 square feet. This year, leases under 10,000 square feet accounted for 84.1 percent of the transactions in the park and nearly 23 percent of the park’s overall absorption. Overall tenant activity totaled approximately 900,000 square feet for the year.
(clockwise) Tanner Insurance, DirectBuy, SwimOutlet and Dahlin Group's new
At the end of 2005, the park’s overall vacancy rate stood at 11 percent. By use, the rate was nine percent for office space; 21 percent for flex/research and development; and one percent for retail.
A number of businesses, including Pitney Bowes and 7-11,
leased space at Hacienda Terrace.
Summary of Major Activity in 2005
|Dahlin Group||6,681 sf|
Major User Acquisitions
|Kaiser Permanente IT||381,984 sf|
|Simpson Strong-Tie||89,892 sf|
|Extended Stay Deluxe||50,264 sf|
Major Tenant Activity
|Tanner Insurance||31,934 sf|
|Pitney Bowes||14,132 sf|
|New Century Title||12,185 sf|
|Green Point Mortgage||11,972 sf|
|Standard Pacific Homes||11,067 sf|
|Seven 11||10,848 sf|
Aura, a new club/restaurant, began lighting up Pleasanton's nightlife this year.
|< 10K sf||84.1%|
|> 50K sf||3.4%|
|< 10K sf||22.8%|
|> 50K sf||49.6%|
|Overall Tenant Activity||~900,000 sf|
Extended Stay Deluxe's new hotel.
Also in this issue ...
- Valley Care Health System to Open New Cancer Center
- Oilpress! is All About Building Brands
- Business Bits
- Executive Profile: Brad Kinney, Brad Kinney Productions
- Placement Pros: Putting Temporary Staff in Place on Demand
- Primerica Helps Families Become Financially Independent
- Hacienda Leasing, Acquisitions Increase in 2005: Tanner Insurance, DirectBuy, SwimOutlet Lead Leasing
- Go Green Initiative to Hold 2006 Earth Summit in Pleasanton
- Pleasanton Library Seeks Volunteer Tutors for Adult Literacy Program
- Tri-Delta Transit Expands Hacienda Service with New Stops in Mountain House
- Hacienda Index