For Immediate Release

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

PLEASANTON, Calif. — Hacienda, Northern California's largest business development, has seen an upswing in occupancy figures at the close of the second quarter of 2024. The vacancy rate has dropped to its lowest point of the year at 15.03%, down from 15.89% in the first quarter. This period also recorded year-to-date positive net absorption of 59,974 square feet, a significant improvement over the negative 165,861 square feet shown at the close of 2023. July continued this trend, with total occupancy hitting a year-to-date high of 6,914,248 square feet, an increase of 36,910 square feet compared to the previous month. Additional activity expected to finalize during the third quarter bodes well for further improvements during the rest of 2024.

Occupancy & Leasing

In May 2024, monthly occupancy started the quarter at 6,850,272 square feet and continued to grow reaching a peak of 6,914,248 square feet by July. The majority of activity came from spaces under 10,000 square feet, which made up 96.69% of all transactions and 33.56% of the total leased space volume. In contrast, larger spaces accounted for about 3.3% of deals, but represented 66.44% of the total leased space as of the conclusion of the second quarter.

Hacienda welcomed several notable tenants last year, including ADP (relocated within Hacienda), Shea Homes, Regional Parks Foundation, Walovich Architects Group, and Inneos (relocated within Hacienda). New tenants in 2024 include the computer consulting company STN, Inc., the Stanford Health Care Cancer Clinic Pleasanton and K&A Engineering Consulting. The business services sector remains the largest occupier of space covering 1,523,088 square feet. Biomedical companies occupy 1,121,006 square feet, while the software development and manufacturing sectors claim 553,154 square feet and 498,570 square feet respectively. Additionally, other significant industries such as retail, hotels, health, education, and consumer goods contribute to the diverse tenant mix, highlighting the abundance of employment opportunities across the Bay Area.

“Hacienda's rebound in occupancy levels during the second quarter of 2024 underscores our fundamental value proposition” said James Paxson, Hacienda’s general manager. “With the vacancy rate dropping to a year-low of 15.03% and a significant positive net absorption of nearly 60,000 square feet, we are excited to see a continued upward trend. The addition of new tenants, such as STN, Inc., Stanford Health Care Cancer Clinic Pleasanton and K&A Engineering Consulting, further diversifies our dynamic tenant mix. As we reach new heights with total occupancy peaking at 6,914,248 square feet in July, Hacienda remains a prime opportunity for businesses looking to establish themselves in Northern California.”

Population and Employment

By the end of the second quarter of 2024, Hacienda was home to a workforce of 14,944 spread across 675 companies, a number expected to grow with upcoming developments and a return to pre-pandemic occupancy levels.

Additionally, around 5,844 people reside within Hacienda's residential developments, with projections reaching 6,400 due to ongoing residential expansion efforts.

Notably, individuals aged 25 to 44 make up 45.5% of Hacienda's resident population, with over 52% earning annual incomes exceeding $150,000.

City of Pleasanton

Pleasanton's demographics reveal a highly educated workforce, with over 85% of residents having attended college and nearly 70% holding a college or professional degree. The city also enjoys a high household income, with over 75% of households earning more than $75,000 annually. Pleasanton is a young city, with nearly a third of the population under 19 and over a quarter aged between 20 and 54, indicating a substantial portion of residents in their prime career years. The city boasts a rich history and character showcased in its picturesque downtown, reflecting its commitment to a high quality of life. Hacienda exemplifies this with its excellent educational facilities, abundant recreational activities, and a favorable climate for enjoying sports facilities, parks, and golf courses.

Hacienda 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 2020 US Census and 2022 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

People come to the San Francisco Bay Area for many reasons: a spectacular natural setting, a sophisticated lifestyle, and unique professional opportunities. Quality of life means having the best of everything within easy reach, whether it's world-class restaurants, theater and museums, the best learning institutions in the country, or some of the finest services available.

Quality of life applies to business, too: having easy access to needed resources, being among other industry leaders, and knowing that you are part of a region that leads the world in innovation. When working and living environments both enhance quality of life, the result is an unbeatable combination that leads to success; and that is what you will find at Hacienda.

Centered in a dynamic region and propelled by the Standard Metropolitan Statistical Areas of San Jose, Oakland, and San Francisco, the Bay Area is a robust economic region. Hacienda, located near the center of the Bay Area in Pleasanton, spans 875 acres and is home to over 675 companies employing approximately 15,000 people. In addition to being a hub for business, Hacienda also features homes for about 6,000 residents, offering a full spectrum of residential choices.

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