The 475,629-sf, 27-building complex is the largestincubator/light industrial park in the south King County area. PGPreal estate director Mike Sedwick was unavailable for comment oncurrent tenants and vacancies.

The other local properties involved in the sale include the64,077-sf Pacific Gulf Industrial Center and the 78,720-sf PacificGulf Airport 200, both in Seattle; the 200,401-sf and 266,305-sfPacific Gulf Distribution Centers, both in Algona; and the106,752-sf Pacific Gulf Renton Center currently under developmentin Renton.

The price of the overall sale - which includes 72 propertiesencompassing a total space of over 15 million leasable sf inCalifornia, Washington, Nevada, Arizona, and Oregon - includes cashvalue as well as the assumption of about $117 million of debt byCalWest - a joint venture between CalPERS, the California PublicEmployees Retirement System, and RREEF, a commercial real estateinvestment advisor.