Bedford Property Investors Inc. completes acquisition.LAFAYETTE, Calif.--(BUSINESS WIRE)--May 6, 1996--Bedford Property Investors Inc. (NYSE NYSE See: New York Stock Exchange :BED) announced that it has completed the $4.1 million acquisition of a suburban office building located in Mountain View, Calif. The property is a two-story office building totalling 41,556 rentable square feet with an underground parking garage and was acquired from Woodland Hills Properties. The property is 97 pct. occupied by eight tenants. "The Silicon Valley is one of the most propitious pro·pi·tious adj. 1. Presenting favorable circumstances; auspicious. See Synonyms at favorable. 2. Kindly; gracious. [Middle English propicius, from Old French real estate markets in the country right now," stated Peter Bedford, "and this office building is a wonderful complement to the properties we already own in the Valley. This facility is being purchased below replacement cost at substantially below market rents and has great promise for upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar ." 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 and Pacific Stock Exchanges under the symbol "BED." CONTACT: Bedford Property Investors Inc. Peter B. Bedford or Donald A. Lorenz, 510/283-8910 |
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