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8/15/24
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Sutter Health’s Palo Alto Medical Foundation recently inked a lease for 64.2k sf of space at Hacienda Research Center, a single-story R&D/office building located at 4480 Willow Rd in Pleasanton. Terms of the deal were not disclosed.
The property underwent renovations in 2022. It features ample parking, dock and roll-up doors, an abundant window line, outdoor seating and highly visible signage.
Dan Watson and Jeff Morgenstern with Newmark represented the landlord, Cannae Partners, which owns the property along with Nashville-based REALM. The Newmark team has advised Cannae Partners for over a decade, completing multiple large lease transactions on its behalf. The tenant, the Palo Alto Medical Foundation, is part of the not-for-profit Sutter Health system.
Watson noted, “This lease points to the green shoots of recovery we are beginning to see in the Tri Valley and Greater East Bay office and R&D market, signifying a positive trend and a growing confidence in the region’s commercial real estate sector.”
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