Pacific Gulf Sells Industrial Facility

Pacific Gulf Properties Inc. said Wednesday it has sold a 302,020-square-foot industrial facility in Ontario to BIT Holdings Forty-Three Inc. for $11.2 million. Newport Beach-based Pacific Gulf said the plant sale is part of its plan to shed properties that do not fit its core--small to mid-sized industrial facilities.

Pacific Gulf, a real estate investment trust, plans to reinvest the proceeds from this sale within 30 to 45 days in its core industrial product type.