The Lafayette, Calif-based equity REIT sold 89,899 sf officebuilding for $20.525 million and a gain of approximately $4.7million, or 25 cents a share. The building has been owned byBedford Property Investors since 1996. As usual, the company isn'treleasing the name of the buyer, said to be a group of privateinvestors from California.
Boeing was the building's single tenant until the end of 1999.Peter B. Bedford, Chairman of the Board and Chief Executive Officerof Bedford, says the company decided to sell after adding "a greatdeal of value to the property" by fully leasing the building tothree tenants at current market rates.
Bedford Property Investors is a self administered equity realestate investment trust with investments in suburban officebuildings and industrial properties concentrated in the westernUnited States.
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