PG&E Expands East Bay Footprint with $22M Pleasanton Office Buy

The utility company adds another office building to its portfolio, acquiring a 209,000-square-foot property from Workday.

Published on Feb. 3, 2026

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Pacific Gas & Electric (PG&E) has purchased a 209,000-square-foot office building in Pleasanton, California for $21.8 million. The property, located at 5928 Stoneridge Mall Road, was previously owned by workforce management company Workday. The deal also includes an adjacent parking garage.

Why it matters

PG&E's latest acquisition is part of the utility company's strategy to expand its real estate footprint in the East Bay region. This purchase comes on the heels of PG&E's $985.5 million acquisition of its Oakland headquarters last year, solidifying the company's commitment to the greater Bay Area.

The details

PG&E acquired the Pleasanton offices and parking garage for a significant discount, paying 69.7% less than the assessed value of the properties. The company plans to use the new office space to accommodate more of its employees supporting the greater Bay Area, including the Tri-Valley region.

  • PG&E completed the $21.8 million acquisition in February 2026.
  • Last June, PG&E acquired its Oakland headquarters for $985.5 million.

The players

Pacific Gas & Electric (PG&E)

A California utilities company that provides natural gas and electricity to customers across Northern and Central California.

Workday

A workforce management software company headquartered in Pleasanton, California that previously owned the office building purchased by PG&E.

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What they’re saying

“The Pleasanton purchase was executed to 'provide adequate office workspace for [PG&E's] coworkers that are supporting the greater Bay Area, including the Tri-Valley,'”

— Tamar Sarkissian, PG&E spokesperson (East Bay Times)

What’s next

PG&E's latest real estate acquisition is part of the company's ongoing efforts to expand its presence in the East Bay region. As the utility continues to grow its workforce and operations, further office acquisitions or leases in the area are likely to be considered.

The takeaway

PG&E's strategic real estate investments in the East Bay, including its recent $22 million purchase in Pleasanton, demonstrate the company's commitment to supporting its workforce and serving customers across Northern California. These acquisitions position PG&E for continued growth and expansion in the region.