Development Update 2017
2017 Another Good Year of Activity at Hacienda
Hacienda had an active year in 2017 with significant new tenancy, expansions, acquisitions and more. Roche Molecular Systems completed their new three-story, 70,700 square foot building on its existing Hacienda campus. In addition, two new residential complexes were completed by Essex development and work continued on a third by Summerhill.
Added to this was another year of positive absorption, the seventh in a row of year over year net gains at year end. Hacienda also saw continued investment in existing facilities with new planned projects for two Hacienda sites. Tenant improvement activity was also strong as tenants expanded and modified their spaces. A list of some of the feature tenant activity appears below.
Summary of Major Activity in 2017
Development Activity (approved, under construction or completed)
|
Roche Molecular Systems |
Completed: 70,700 sf |
|
Essex Hacienda |
Completed: 251 units and Public Park |
|
Essex Hacienda |
Completed: 255 units and 5,700 sf Retail |
|
Summerhill |
Construction: 94 units |
Major Tenant Activity
|
Service Now |
~ 25,000 sf |
|
Gritstone Oncology |
~ 42,000 sf |
|
Pacific Office Automation |
~ 26,000 sf |
|
Philips |
~ 45,000 sf |
|
Roche Molecular Systems |
~ 71,000 sf |
|
Providence Medical Technology |
~ 17,000 sf |
|
Sharp Business Systems |
~ 19,000 sf |
Overall Tenant Activity ~ 440,000 sf
|
Size |
Transaction Volume |
Space Absorbed |
|
< 10K sf |
66.67% |
12.76% |
|
10K-50K sf |
25.93% |
46.65% |
|
> 50K sf |
7.41% |
40.59% |
