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SOUTH SAN FRANCISCO-Bedford Property Investors Inc. has sold its four warehouse properties here for $41 million. Stephen Silla, SVP of the Lafayette, CA-based REIT tells GlobeSt.com the properties comprise 280,302 sf and are fully leased.Bedford did not name the properties or the buyer in its announcement, and Silla declined to provide the information, citing a request from the buyer. The name of the buyer was not otherwise immediately available, but based on information on Bedford’s Web site and conversations with industrial brokers in the region, the properties sold are as follows:–342 Allerton Ave., a 69,312-sf tilt-up warehouse built in 1974.–410 Allerton Ave., a 46,050-sf tilt-up warehouse built in 1970.–301-325 East Grand Ave., a 57,846-sf concrete tilt-up built in 1974.–400 Grandview Ave., a 107,004-sf concrete tilt-up built in 1977.Bedford says the sale of the properties resulted in a GAAP gain of approximately $22 million. The disposition leaves Bedford with one steel-frame service-flex development in the city, the South San Francisco Business Center, which comprises 112,384 sf including the mezzanine.In November, the South San Francisco-based international pharmaceutical company Genentech acquired a 114,000-sf industrial building in the Cabot & Forbes Industrial Park adjacent to its headquarters campus. The company paid $11.2 million for the building, which includes 84,000 sf of warehouse space on one level and 30,000 sf of office, conference and showroom space on two levels. The building, being held for future expansion needs, is leased through 2005 to Keeco, an importer and wholesaler of household textile products also headquartered in South San Francisco.

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