Vaco, a staffing and recruitment firm, has signed a lease for 50,000 square feet at Bishop Ranch in San Ramon. This is the largest lease to be signed at the business park since Covid-19 began.
Sunset Development, the owner of Bishop Ranch, said that Vaco, a Tennessee-based company with 10,000 employees and 45 offices worldwide, has begun moving into their Bishop Ranch office at 2603 Camino Ramon this month. The former GE Software space will house 1,000 Vaco employees who will work in shifts to moderate contract content for a single customer, which Vaco only identified as the third largest social media platform in the world.
Vaco's spokesperson declined to name the platform. According to the firm's website, its clients include Facebook Hulu and YouTube. It has an office in Walnut Creek, which already serves some Bay Area-based clients.
Sunset Development reported in spring 2022 that it had seen 725,000 square foot of leasing activity over the past two years, although lease renewals seemed to account for most of this square footage. Bishop Ranch saw the oil giant Chevron sign a 400,000-square foot lease in 2022, as part of the deal to sell their 1.3-million-square foot San Ramon headquarters. Five9, an online software company, also signed a 110,000-square feet deal at Bishop Ranch, during summer 2020.
The company refused to reveal the financial details of its lease.
According to the latest data from Newmark, a real estate services company, Bishop Ranch had a total available of 25,4% in the 4th quarter of 2022. Sunset Development is actively converting underutilized office buildings within the park as well as within Chevron’s former campus to thousands of homes, and at least 100,000 sq. ft. of retail space.