The buildings were held by TBI-MWP, an unconsolidated jointventure in which Mission West acquired a 50% (non-controlling)interest in January 2003 from the Berg Group under the Berg LandHoldings Option Agreement.
Mission West says it received $16.9 million in net proceeds fromthe transaction and will record a $20.6 million gain in the fourthquarter of 2008. One 156,000-sf R&D building remains in the JV,according to an SEC filing.
Mission West operates 111 properties totaling approximatelyeight million rentable square feet. The number includesapproximately 854,000 square feet--16 buildings--that it says arein the process of being rezoned for residential development.
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