NEWPORT BEACH, Calif. Dec. 22 /PRNewswire/ -- Pacific Gulf Properties Inc.
(NYSE: PAG) has acquired four industrial business properties in Sacramento,
California containing approximately 503,000 square feet for a combined total
purchase price of $22,900,000.
Bradshaw Business Centre, purchased from AEW for a total price of
$8,700,000, is a multi tenant business park built in the late 1980's which
consists of four concrete tilt-up buildings containing approximately 114,000
square feet which provide suite sizes ranging from 1,400 to 22,400 square
feet.
Built in 1988, Horn Road Business Complex, a 221,000 square foot
warehouse/manufacturing facility located directly across the street from
Bradshaw Business Centre, was purchased from Jackson Properties for a purchase
price of $9,500,000. Horn Road consists of 11 freestanding concrete tilt-up
buildings which offer suite sizes ranging from 1,600 to 21,600 square feet,
along with ground level loading.
Purchased from PM Realty Advisors for a total purchase price of
$4,700,000, Norwood Industrial Parks I and II consist of four concrete tilt-up
buildings containing approximately 168,000 square feet. Norwood Industrial
Parks I and II offer a variety of suite sizes ranging from 1,900 to 53,000
square feet and feature both dock high and ground level loading.
Norwood Park I consists of two smaller industrial buildings offering
smaller multi tenant spaces, while Norwood Park II consists of two
distribution buildings, one of which is 100% occupied by Federal Express.
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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CONTACT:
Lonnie P. Nadal, SVP-Acquisitions of Pacific
Gulf Properties, Inc., 714-223-5000
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