Pacific Gulf Properties Inc., the real estate investment trust in Newport Beach that manages and owns apartments and industrial buildings in California and the Pacific Northwest, is on a buying spree. The publicly traded firm said Thursday that it had completed the purchase of three industrial buildings for $17.4 million.
The company bought the Pacific Business Park in Aliso Viejo that is 90% occupied; the North County Business Park in Yorba Linda, 100% occupied, and the Bell Ranch Road building in Santa Fe Springs, fully occupied. “The addition of these properties to our portfolio provides Pacific Gulf with greater visibility in the marketplace as well as the ability to service most areas of Southern California,” said Glenn L. Carpenter, chairman and chief executive officer.
Debora Vrana covers real estate for The Times. She can be reached at (714) 966-5979 and at firstname.lastname@example.org