Hacienda saw another year of strong activity in 2018. Over the last twelve months the development experienced nearly 400,000 sf of tenant transactions, numerous projects to accommodate incoming and existing tenants, and new investment in the form of six property sales. In addition, construction has been completed on Hacienda's latest for-sale residential community: Andares. The park is the largest mixed-use development of its kind in Northern California.
“2018 ended well for Hacienda with continuing signs of the underlying strength of the economy providing opportunities for the development. New investment over the last year, both in terms of facility upgrades and facility acquisition, have been particularly prominent in Hacienda's growing biotechnology sector” notes James Paxson, Hacienda's general manager. "While vacancy increased slightly toward the end of the year, this was principally due to the loss of just two tenants: Orchard Supply Hardware and Veritiv. However, in both cases, we believe we will be hearing about new tenants for the sites that they occupied very soon. We further expect to see current economic trends continue to produce positive activity into the new year.”
Major transactions in 2018 were seen by companies in a variety of business segments. Tenant transactions include: Catholic Funeral and Cemetery Services (Community), Precision Cabinets (Consumer Goods), Global Syn-Turf (Consumer Goods), America's Best Contacts and Eyeglasses (Retail), Neotract (Biomedical), Barrick Gold Corporation (Mining), Farmers Insurance (Insurance), Safari Kid (Tutoring), Bio-Rad Laboratories (Biomedical), and Hyland Software (Software Development).