Fresh Off a $1 Billion IPO, Get to Know San Leandro’s TriNet
With a highly visible location at Creekside Plaza, TriNet’s world headquarters on San Leandro Boulevard are hard to miss for anyone passing through Downtown San Leandro. This post provides a little more information on TriNet, one of San Leandro’s leading employers and a key building block for the revitalization of our downtown.
TriNet’s core business is providing outsourced human resources services for small to medium-sized companies. Almost across the board, start-ups and small companies find that they lack the expertise and resources to handle needed HR functions. TriNet’s services allow them to leave those challenges to the experts and focus on their core business model. Services include payroll, payroll taxes, benefits, workers’ compensation, and personnel law issues.
TriNet was founded in San Leandro in 1988 by Martin Babinec with “friends and family” money. The company was originally based at 1525 Estudillo Avenue. With rapid growth over time, TriNet outgrew this location. The development of Creekside Plaza, San Leandro’s first class-A office development was, in part, a response to the need to help TriNet remain in San Leandro.
Today, Creekside continues to serve TriNet well. With a workforce that lives all over the Bay Area, their location near BART makes it easy for employees to get to work. As TriNet expands its services to include online functions and mobile apps, the Bay Area also provides a great location to hire software developers in addition to the human resources professionals that provide TriNet’s core services.
Late in 2013, TriNet announced plans to go public, and an Initial Public Offering took place on March 27, 2014. The IPO makes TriNet the second publicly traded company to be headquartered in San Leandro (along with Energy Recovery, Inc.). The current stock price indicates a market valuation for the company of about $1.5 Billion.
TriNet places a high priority on being an active member of the community. The TriNet Cares program organizes volunteer activities at all TriNet office locations. Last year, the San Leandro office organized a donation drive to provide backpacks and school supplies for local children in need. TriNet is also a 25-year member of the San Leandro Chamber of Commerce.
As Downtown San Leandro embarks on an ambitious path toward transit-oriented development, companies like TriNet are critically important. Clustering office development near BART is the most effective way to provide meaningful transportation options, reducing our reliance on cars. Quality office jobs also bring spending power to Downtown San Leandro, in turn bringing increased demand for the restaurants and shops that residents would like to see.
The City of San Leandro congratulates TriNet on their 26 years of success in San Leandro and looks forward to continuing this valued partnership.