Bedford Property Investors Announces $16 Million Property Sale.LAFAYETTE, Calif. -- Bedford Property Investors, Inc. (NYSE NYSE See: New York Stock Exchange :BED) announced today the sale of a two building portfolio in San Ramon, California San Ramon is a city in Contra Costa County, California, United States. It is a part of the San Francisco Bay Area. Since 1980, the population of San Ramon has increased by over 128% from 22,356 to 51,027 in 2005. to a single buyer for a sale price of $16 million. The properties consist of two office buildings located at 2001 and 2401 Crow Canyon Road. Together the properties comprise 96,775 square feet. The transaction resulted in a GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). gain of $2.4 million. "At 98% leased, these two properties are fully stabilized," said Peter B. Bedford Chairman of the Board and Chief Executive Officer. "This sale is consistent with our goal of creating value for our stockholders." Bedford Property Investors is a self-administered equity real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) with investments in suburban office buildings and industrial properties concentrated in the western United States. It is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and the Pacific Exchange under the symbol "BED" and its web site is www.bedfordproperty.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion