Pacific Gulf Buys Arizona Business Site

Dow Jones

Pacific Gulf Properties Inc., a real estate investment trust based in Newport

Beach, said Monday that it has acquired Broadwood Business Centre in Mesa, Ariz., for $7.95 million.

The company said in a press release that the 156,197-square-foot Broadwood center increases Pacific Gulf’s presence in the Phoenix area to more than 500,000 square feet of property. The center is currently 95% leased.