Pleasanton, CA - Office Market Overview
The Pleasanton real estate market includes the Hacienda Business Park, Signature Center, and Verona commercial real estate submarkets. While Pleasanton itself has a population of just over 82,000, the city is also part of the much larger San Francisco - Oakland - Hayward metropolitan statistical area, home to nearly 4.7 million people. Demand for office space in Pleasanton is driven by a diverse mix of businesses.
As of mid-2017, the Pleasanton office market encompasses over 9.3 million square feet of existing office space in properties larger than 50,000 square feet. The great number of high-tech employers and the city's 25-mile distance from the San Francisco Bay Area contributes to the consistently robust demand for commercial real estate in Pleasanton, CA.
Pleasanton, CA - Office Inventory Description
Pleasanton has twice been ranked as the wealthiest mid-sized city in the U.S. by the Census Bureau and 4th among the top 50 places to live in the U.S. by USA Today. As a result, cutting-edge businesses are attracted by the area's motivated, skilled white-collar work force. There are over 1.1 million square feet of Class A or A+ office space in Pleasanton, while Class B offices add nearly 8.2 million square feet more to the office inventory in Pleasanton.
The Downtown Pleasanton office submarket sees some of the strongest demand for office space in the city. Located north of Bernal Avenue between the I-680 and Valley Avenue, this area boasts investment-grade office buildings such as Birch Lakes, Bernal Corporate Plaza I, and Sycamore Plaza II on Koll Center Parkway.
Pleasanton, CA Commercial Inventory Breakdown
Total: 10,519,295 SF
By square footage range:
- 50k to 100k SF: 2,302,817 SF / 21.89% of total office
- 100k to 500k SF: 7,367,707 SF / 70.04% of total office
- 500k to 1M SF: 848,771 SF / 8.07% of total office
- Class A: 3,212,593 SF / 30.54% of total office
- Class B: 7,306,702 SF / 69.46% of total office
Pleasanton, CA - Green Office Space
The San Francisco region is home to one of the highest percentages of green office buildings in the entire country. For example, there are over 1.7 million square feet of Energy Star-rated, LEED-certified, or otherwise green office space in Pleasanton. One great example of a LEED-certified local office building is the Pleasanton Corporate Commons - 6220. Located in the Stoneridge commercial real estate submarket of the city, this office building was built in 2002 and contributes nearly 149,000 square feet of Class A LEED Platinum-certified office space to the inventory.
Green office space isn't just a passing fad. The National Green Building Adoption Index survey conducted in 2017 analyzed the top 30 office markets in the U.S. to measure the growth of adoption of energy-efficient, green office construction. This study found that over the past 12 years the percentage of environmentally-friendly office space has grown by about 33%.
Pleasanton, CA's Top Office-Using Sectors
The Pleasanton commercial real estate market sees consistent demand for space from top office-using sectors like technology, pharmaceutical, healthcare, and large corporate offices.
- Technology – Oracle, Cisco Systems, Sage Software, and Hitachi High Technologies America create high demand for white-collar office space in Pleasanton.
- Pharmaceuticals – Roche Molecular Systems and Thermo Fisher Scientific are two of the companies in this top office-using sector.
- Healthcare – Institutions such as Kaiser Permanente and ValleyCare Medical Center help drive demand for commercial real estate in Pleasanton.
- Corporate Offices – Safeway, Workday, Simpson Manufacturing, The Cooper Companies, and Shaklee are all headquartered in the city and also create white-collar office employment in Pleasanton, California.
- Total Population79,341
- Male Population(48.9 %) 38,836
- Female Population(51.1 %) 40,505
- Median Age42.40
- Average Household Income$168,160
- Median Household Income$138,269
- Median Income Under 25$74,712
- Median Income 25-44$151,268
- Median Income 45-64$161,386
- Median Income Over 65$72,826