Completed in 1987, Hacienda Lakes includes four two-story buildings and a one-story building in a park-like campus setting that includes several ponds. Major tenants include Sun Maid Growers (30,707 sf), Option One Mortgage (22,308 sf), H&R Block Mortgage (18,202 sf), Quest Software (12,020 sf) and Bivio Networks (11,983 sf).
"With the extension of BART and the continued growth of the residential communities to the East, we think Hacienda's attractiveness to companies and their employees will continue to increase," says Nancy Gille, Harsch's SVP and Bay Area regional manager.
In October, Harsch paid CarrAmerica Realty Corp. $38.3 million for the two-building, 208,557-sf Hacienda West office development. Completed 1986 on 14.16 acres, Hacienda West consists of one two-story office building and one three-story office building. The property was 80% leased at the time to several tenants, including Hewlett-Packard, Sun Microsystems, Standard Pacific Corp and Kaiser Foundation Health.
Harsch made its first acquisition with the Hacienda Business Park in 1998, acquiring the 150,644-sf Stoneridge Business Center. "These two recent acquisitions give us an even stronger presence in the highly desirable Hacienda Business Park and allow us to benefit from the improving market fundamentals in the East Bay," says Harsch president Jordan Schnitzer.
Harsch Investment Properties purchased Hacienda Lakes from Rasap Franklin LP. Ted Helgans, Gabe Arechaederra and Brian Lagomarsino with Colliers International brokered the transaction.
Harsch Investment Properties owns and operates 130 properties in five Western states. Its commercial real estate portfolio includes about 20 million sf of office, retail and industrial properties and 2,000 multifamily units. The company acquired about $200 million in assets in 2005 and has about 2.7 million sf in the development pipeline.
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