REIT Buys Industrial Facility From Vons
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NEWPORT BEACH — Pacific Gulf Properties Inc. said Wednesday that it has purchased an industrial distribution and manufacturing facility in north San Diego County from Vons Cos. for $16.75 million.
The Newport Beach-based real estate investment trust said the facility sits on 27.5 acres. Pacific Gulf plans to develop 88,000 square feet of warehousing on the site, which already contains a 375,000-square-foot building.
Pacific Gulf now owns more than 8 million square feet of industrial space in 33 properties.
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