Bedford Property Investors announces acquisition.LAFAYETTE, Calif.--(BUSINESS WIRE)--Sept. 21, 1995--Bedford Property Investors Inc. (NYSE NYSE See: New York Stock Exchange : BED) announced that it has completed the acquisition of the Compression Labs Building, an R&D facility in San Jose, Calif., for $8,325,000, or $58/sq. ft. This is the second purchase made by Bedford Property Investors Inc. within the Silicon Valley Market. The Compression Labs Building is located in Montague Park at 350 E. Plumeria. The facility is 142,620 square feet situated on an 8.10 acre parcel of land. The Compression Labs facility was acquired from Merrill Lynch Hubbard Realty Fund. The building is currently 100 percent leased to Compression Labs, a manufacturer and distributor of visual communication systems currently traded on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on (symbol "CLIX"). Six years remain on the current lease. The acquisition of the Compression Labs Building evidences the company's ability to execute its acquisition growth plan. Bedford Property Investors Inc. 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 New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 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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