Pacific Gulf Buys Property
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(Dow Jones)
NEWPORT BEACH — Pacific Gulf Properties Inc. bought a 263,000-square-foot vacant industrial distribution facility adjacent to one of its industrial properties in Algona, Wash., for $8.75 million, the real estate investment trust said Thursday.
Pacific Gulf will rehabilitate the facility, which can be divided into 20,000-square-foot spaces for mid-size users. The acquisition brings the company’s industrial portfolio to nearly 6.3 million square feet.
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