NEWPORT BEACH, Calif., July 13 /PRNewswire/ -- Pacific Gulf Properties
Inc. (NYSE: PAG) announced today the closing of the Company's sale of its
industrial building in Sunnyvale to Duane Ventures, LLC.  The sale of the PG
Commerce Park in Sunnyvale, California produced approximately $19.3 million
net cash proceeds to the Company after payment of costs and expenses.
    Pacific Gulf Properties Inc. is a real estate investment trust (REIT) that
currently is in the process of liquidating its assets.  The company is
headquartered in Newport Beach, California.

    Forward-looking statements and comments in this press release are made
pursuant to the safe harbor provisions of Section 21E of the Securities
Exchange Act of 1934.  Such statements relating to, among other things,
events, conditions, prospects and financial trends that may affect the
company's future distributions, plans of operations and financial position are
not guarantees of future performance and are necessarily subject to risks and
uncertainties, some of which are significant in scope and nature, including
without limitation, increased competition, adverse economic trends, increasing
interest rates, future liabilities and other factors.

Link to this page: