Workday buys several Pleasanton buildings

Workday has completed a real estate deal that solidifies the tech titan’s footprint in the East Bay by purchasing several office buildings in Pleasanton.

The swiftly expanding provider of cloud-based software services has bought six buildings in Pleasanton, including its existing headquarters complex, according to Alameda County property documents filed on March 18.

The just-bought buildings are all located on Stoneridge Mall Road near the regional shopping center in Pleasanton.

Pleasanton-based Workday paid $172.5 million for the buildings, the county public records show. The transaction was an allcash deal, according to the property files.

The seller in the deal was an affiliate controlled by David Duffield, who cofounded Workday and is currently the company’s chairman. The tech company provides on-demand software to help organizations and companies manage finances and workforces.

Workday isn’t the only advanced technology company to make a major commitment to Pleasanton in recent weeks through a large property purchase.

On Jan. 25, 10x Genomics paid $29.4 million in cash for a 14.6-acre site at 1701 Springdale Ave., where the company will develop a second office campus in Pleasanton.

This new campus will total 381,000 square feet consisting of up to three buildings, along with the construction of a parking garage, according to 10x Genomics, a fast-growing life sciences company.

All told, Workday bought six buildings that together total 972,700 square feet, according to public documents and property listing services:

• Workday headquarters, 6110 Stoneridge Mall Road, 410,000 square feet.

• Five office buildings at 6120, 6130, 6140, 6150, and 6160 Stoneridge Mall Road, that total a combined 562,700 square feet.

Workday’s revenues have charted a steady growth curve, although the company continues to lose money.

Over the 12 months that ended on Jan. 31, Workday lost $282.4 million and generated $4.32 billion in revenue. Workday’s revenue was up 19% compared to the same 12-month period the year before.

Workday made it clear that its acquisition of the buildings was undertaken with an eye towards the longterm future of the company.

“This purchase provides long-term stability to our corporate headquarters footprint in Pleasanton,” Workday stated in a regulatory filing with the Securities and Exchange Commission.