Bedford Property Investors Announces Lease Transaction.LAFAYETTE, Calif. -- Bedford Property Investors, Inc. (NYSE NYSE See: New York Stock Exchange :BED) announced today the renewal of a lease for 30,504 square feet in its Phoenix Airport Center Building No. 4 property, located in Phoenix, Arizona. The five year lease is a renewal with FedEx Corporate Services. FedEx has leased the building since 1997. "We are pleased that a tenant of the caliber of FedEx has chosen to renew its full building lease," said Peter B. Bedford, Chairman of the Board and Chief Executive Officer. "We believe this lease renewal demonstrates the value of the property's proximity to the Phoenix Airport." 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 Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . 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. |
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