Harsch Investment Properties Builds Strong Tenant Relationships

By Nicole Zaro Stahl, Hacienda Network Staff Writer

December, normally a quiet time in the world of commercial real estate, was unusually busy in the Tri-Valley, reports Julie Remy, Vice President of Harsch Investment Properties, which has its office in Hacienda West. "It has been the most active month we've seen recently," she comments.

Hacienda has been a hot spot, attracting a number of office users, including East Bay Regional Parks, relocating from Hayward. "It's exciting to see them come over the hill into Pleasanton," says Remy. Tenant improvements are currently underway for the 9,000 square foot suite in Stoneridge Business Center, to be occupied in early February.

The light industrial/office flex Stoneridge Business Center was the first property Harsch purchased in the park, back in 1998. Also in the local portfolio are the Class-A Hacienda West and Class-B Hacienda Lakes projects, giving Harsch a well-rounded selection of space to offer its clients, typical of the firm's overall approach.

Founded in the 1950s and headquartered in Portland, Oregon, the real estate investment, development, and management company owns and operates more than 130 properties throughout six regional offices along the West Coast. Its total portfolio encompasses over 21 million square feet of office, industrial flex, and retail commercial properties in Portland, Seattle, San Francisco Bay Area, Sacramento, San Diego, and Las Vegas. It also includes more than 1,000 multi-family housing units.

The diversity of space at the local level furthers the company's goal of having a full cycle of property types and sizes, not only to attract a mix of clients but to accommodate existing tenants as their business and real estate needs evolve. "Harsch strongly believes that our tenant's success is our success," observes Remy. "It is always very exciting to see tenants outgrow their space and relocate into another suite or to one of our other properties. We value these relationships and make sure that when a tenant renews they are in the right space."

As the East Bay Regional Manager, Remy is responsible for all leasing and asset management activity in a portfolio of office and industrial properties totaling 1.2 million square feet. While commercial real estate remains a buyer's market, she has been noticing signs of recovery lately. "This year we have seen positive absorption. Of course, we would be happy to see more activity to fill the vacancies, but things seem to be going in the right direction." Some of the new business has been generated by larger companies that are actually downsizing into the higher end of the Harsch portfolio, up to 25,000 square feet, but Remy has also observed a "flight to quality" - companies graduating from industrial to Class-A office space, or home-based ventures moving into small industrial units.

Also figuring among the current crop of Tri-Valley newcomers are those migrating from Silicon Valley, where absorption rates are also on the upswing. "As that market fills, more and more companies will be moving or expanding to the Tri-Valley because of lower prices and the availability of inventory," she points out. "Plus Hacienda is so convenient, right along the 580/680 corridor. The location sells itself."

To find out more, visit www.harsch.com.

Photo: Julie Remy, Vice President of Harsch Investment Properties.

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