Pacific Gulf Buys Seattle-Area Business Park

Pacific Gulf Properties Inc. said Friday it has purchased a 476,000-square-foot business park in the Seattle area for $17.3 million.

Pacific Gulf said it plans to spend about $800,000 on improvements to the Koll Business Center Tukwila, which is in the Kent Valley industrial center.

Pacific Gulf will establish an office at the newly acquired property to manage all of its industrial projects in the Pacific Northwest, said Glenn L. Carpenter, president and chief executive officer of the Newport Beach real estate investment trust.