NEWPORT BEACH, Calif., May 7 /PRNewswire/ -- Pacific Gulf Properties Inc.
(NYSE: PAG) announced today the appointment of J.R. Wetzel as Executive Vice
President of Operations, a newly-created position. Mr. Wetzel will be
responsible for overseeing all operating, leasing and marketing activities for
Pacific Gulf's industrial portfolio, currently 61 properties containing
approximately 12,300,000 square feet, and its multifamily portfolio of 25
projects containing a total of 4,821 units. In addition, Mr. Wetzel will
oversee all development and construction activities for the Company.
Glenn L. Carpenter, Chairman of the Board and Chief Executive Officer,
stated that the addition of Mr. Wetzel will add not only strength to its
executive management team, but a great deal of experience in the areas of
acquisition, development and construction. Carpenter further stated that with
the rapid growth in the Company over the last two years, the addition of this
position would add depth to the Company's senior management.
Mr. Wetzel brings a wealth of experience to his new position with Pacific
Gulf. He has extensive knowledge of real estate markets throughout both
Southern California and Northern California, as well as the western United
States. His past experience included responsibility for up to 19,000,000
square feet of industrial properties; his areas of expertise include
development, design, construction management, asset management, leasing,
marketing and site acquisitions. Also, Mr. Wetzel brings experience in the
finance area, having assisted with the financing of new projects and
refinancing for projects which required permanent financing.
Prior to accepting the position with Pacific Gulf, Mr. Wetzel was vice
president, development/western region for Industrial Developments
International of Irvine, California since April 1996. In addition, Mr.
Wetzel held various officer positions with O'Donnell Property Services, also
of Irvine, California, over a ten-year period, culminating as president
between January 1994 and May 1995, when the company was sold. He then acted
as Senior Managing Director for the successor company, Insignia-O'Donnell,
between May 1995 and April 1996, having responsibility for that company's
greater Orange County, California region.
Mr. Wetzel earned his M.B.A. in Real Estate Finance and Marketing from the
University of Southern California, Los Angeles, California, and his B.A. in
Economics from Claremont McKenna College in Claremont, California.
Mr. Wetzel lives in Coto de Caza, California with his wife and children.
Pacific Gulf Properties Inc., a self-administered and self-managed equity
real estate investment trust, owns, operates, leases, acquires, rehabilitates
and develops industrial and multifamily properties located in selected markets
within the western United States.
SOURCE Pacific Gulf Properties Inc.
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fax, 800-758-5804, ext. 671475
CONTACT:
Cindy L. Smith, Investor Relations of Pacific
Gulf Properties Inc., 949-223-5000, 800-PGP-1909
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