Portfolio Boosted
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NEWPORT BEACH — Pacific Gulf Properties Inc., expanding its Northern California holdings, has purchased a 21-acre industrial distribution facility near Sacramento for $12.7 million.
Although the 570,000-square-foot James River Distribution Center is currently occupied by James River Corp., Pacific Gulf said Monday that it plans to divide the center for multiple tenants when the current lease expires.
This acquisition boosts Pacific Gulf’s industrial portfolio to 26 properties with nearly 6 million square feet.
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