SAN FRANCISCO-Mission West Properties Inc. said Monday it has been authorized by its board of directors to purchase up to $5 million of its common stock on the open market over the next 12 months. The Cupertino, CA-based R&D REIT has approximately 19.8 million common shares outstanding. In early afternoon trading Monday stock in the company’s was trading in the low-to-mid $7 range, a little less than $2 above its 52-week low of $5.69 and approximately $4 below its 52-week high of $12.45.

Mission West owns and operates eight million square feet in 111 buildings located primarily in the Silicon Valley, which borders the south end of San Francisco Bay. The total includes 854,000 square feet in 16 buildings that are in the process of being rezoned for residential development.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.