For Immediate Release

Contact: James Paxson, General Manager
Hacienda Owners Association
(925) 734-6500

PLEASANTON, Calif. — The recovery from the planned office opening at the end of the second quarter that failed to occur has resulted in a stall in activity in almost all sectors. While flex and logistics spaces see continued interest, most other real estate products are continuing to see a soft market. In addition, planned reoccupation of owned corporate facilities have, in many cases, also been delayed. Tenant transactions were nominal during the third quarter and industry representatives now indicate that a resumption of significant activity may not be seen until the first or second quarter of the new year. Even with transactions in excess of 160,000 square feet for the year, occupancy in Hacienda has declined by an additional 0.40% since the end of the second quarter. The park is the largest mixed-use development of its kind in Northern California.

“Hacienda's third quarter was not as strong as was expected with the hoped-for reopening in June. With the effects of the Covid-19 variant continuing to impact business, activity slowed considerably. Vacancy rates have increased for office, flex and retail spaces quarter over quarter and net occupancy has declined since the close of 2020 as well" noted James Paxson, Hacienda's general manager. "Despite this, there are still signs of strength in certain areas. Hacienda has seen two investment sales so far this year and more are expected before the end of 2021. Additional tenant activity is expected but the current cautious environment means a slower, more deliberative process. We continue to believe that as office environments begin to reopen more, conditions will improve."

Overview

The following overview will provide you with information on the most recent Hacienda activity pertaining to occupancy, tenants, sales and regional data of interest. Please also refer to selections found under the Project Overview section of our web site for related information.

Park Activity

• Occupancy and Major Tenant Transactions {Summary of occupancy information and major tenant activity}

• Development {Summary of development approvals and project construction information}

• Sales {Summary of project sales}

General

• Population {Summary of employee and residential population}

• Land Use Summary {Summary of activity by land use}

• Demographics (Area and Community) {Summary of demographic characteristics from 2010 US Census and 2019 American Community Surveys}

• Valuation {Summary of valuation}

Projects and Tenants

• Property Profiles {Summary of project specific information}

• Business Directory {Summary of businesses located in Hacienda}

About Hacienda

Hacienda is the largest development of its kind in Northern California. Over 10 million square feet of existing, mixed-use space is occupied by some 680 companies that locally employ over 18,000 people. Hacienda's businesses represent the best and the brightest of contemporary corporate America and provide the home to everything from small offices to regional centers to large campuses for company headquarters. In addition, Hacienda also features homes to approximately 6,000 residents. Residential developments also provide a full spectrum of choices from stylish rental units to single family detached homes.

Contact Information

Hacienda Owners Association
4305 Hacienda Drive, Suite 330, Pleasanton, California  94588-2738
(925) 734-6500 phone     (925) 734-6501 fax
info@hacienda.org e-mail     www.hacienda.org WWW