Lincoln Property Co. closing in on Hacienda - East Bay Business Times:

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John Herr, an executive vice president with Dallas-bases Lincoln, acknowledged that his company is under contracg to buya 15-acre piece of land across the streef from the Pleasanton/Dublin BART station on Owens Drive. The property's currentg owner, Prudential Insurance Co. of recently got city approval fora 335,000-square-foot office development on that All the buildings will be four stories One will measure 95,000 square feet while the otheer will be 120,000 square feet. "We are very exciter about the deal," said Herr. "You've got excellent visibilituy fromHighway 580, and the identity and amenitiea associated with the Hacienda Busines s Park.
" While Herr would not disclose how much Lincoln is payinyg for the land, one real estate source said word in industru circles pegs the going rate at $23 per square Herr did say current markegt prices exceed that figure. Herr was also tight-lipped about the possibility ofa tenant, but one sourcs said that a singl firm has already agreed to taking a large chunki of the first structure. That sourcse would only describe the potential tenant as aSan Francisco-based insurancer company. Meanwhile, Herr said that Lincoln expects to closee on the purchase of the land by the end of Reach Smolenat ksmolen@amcity.com or 925-598-1427.