NEWPORT BEACH, Calif., Feb. 9 /PRNewswire/ -- Pacific Gulf Properties Inc.
(NYSE: PAG) announced its final closing in the AMRESCO portfolio, having
completed the acquisition of a 300,000 square foot industrial center in Las
Vegas, Nevada for a total purchase price of $14,000,000. Valley View
Industrial Center consists of three concrete tilt-up buildings which offer
ample clear height with dock high and ground level loading capabilities. The
property is currently 100% occupied. With the closing of Valley View
Industrial Center, the Company completed its acquisition of the 843,000 square
foot, four-property portfolio from AMRESCO, which was announced in late 1997.
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:
Cindy L. Smith, Investor Relations, Pacific
Gulf Properties Inc. 714-223-5000, or 800-PGP-1909
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
671475
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