Development Update 2018
2018 Full of Business Activity and Growth
2018 saw Hacienda welcoming a number of new tenants along with the construction and redevelopment of projects to accommodate new business. In addition, the new Andares residential community was completed with all units sold before construction was finished. 2018 also saw a strong year of new investment in the development further affirming the value and opportunity represented by Hacienda real estate.
Much of the growth that occurred during 2018 in Hacienda came from existing tenants. Hacienda's expanding biomedical sector increased significantly when both current occupants Neotract and Bio-Rad enlarged their presence. Other economic sectors saw both growth and new tenancy in a range of sizes. A list of some of the feature tenant activity appears below. New tenants also brought facilities upgrades at several locations. In addition to the new space being developed for Neotract, Hacienda saw entire buildings repurposed for new tenants at two locations: 5900 Owens Drive and 5901 Coronado Lane. The following will provide an overview of development, tenant and sales activity for the year.
2018 Development Activity (Approved, Under Construction or Completed)
|
Summerhill |
Construction: 94 units |
|
Summerhill |
Completed: 94 units (74 units in 2017) |
Major Tenant Activity
|
Catholic Funeral and Cemetery Services |
~ 10,000 sf |
4750 Willow Road |
|
Global Syn-Turf |
~ 10,000 sf |
Inglewood Place |
|
Precision Cabinets |
~ 11,000 sf |
Britannia Business Center I |
|
Barrick Gold Corporation |
~ 12,000 sf |
Hacienda Terrace |
|
Neotract / Teleflex |
~ 76,000 sf |
Britannia Business Center I |
|
Farmers Insurance |
~ 23,000 sf |
Rosewood Commons |
|
Safari Kid |
~ 28,000 sf |
4464 Willow Road |
|
Bio-Rad Laboratories |
~ 59,449 sf |
Gibraltar Center I |
Overall Tenant Activity: 392,000 sf
|
Size |
Transaction Volume |
Space Absorbed |
|
< 10K sf |
93.10% |
36.93% |
|
10K-50K sf |
5.17% |
26.08% |
|
> 50K sf |
1.72% |
36.99% |
2018 Sales Activity
|
Project Name |
Acres |
Size |
Type |
Date of Sale |
|
Sunol Center I |
3.280 |
55,665 sq ft |
Investor |
06/14/2018 |
|
Starbucks |
.918 |
3,040 sq ft |
Investor |
08/02/2018 |
|
4225 Hacienda Drive |
22.370 |
535,000 sq ft |
Investor |
09/26/2018 |
|
Saratoga Center I |
2.970 |
41,574 sq ft |
Investor |
10/10/2018 |
|
Gibraltar Center I |
4.209 |
59,449 sq ft |
User |
11/28/2018 |
|
Gibraltar Center II |
2.830 |
42,230 sq ft |
User |
11/28/2018 |
