Bedford erty (NYSE:BED)
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From Jun 2019 to Jun 2024
Bedford Property Investors, Inc. (NYSE:BED) announced
today the sale of an asset in Fremont, California for a sale price of
$9.5 million. The property is an 87,953 square foot R&D building
located at 6500 Kaiser Drive. The transaction resulted in a GAAP gain
on sale of approximately $2.7 million. The property was not leased at
the time of sale.
"This property was vacated by a single tenant in the fourth
quarter of last year," said Peter B. Bedford, Chairman of the Board
and Chief Executive Officer. "Given the current market conditions in
the local submarket, we believe that the opportunity to sell the
property at this time is consistent with our goal of creating value
for our stockholders."
Bedford Property Investors is a self-administered equity real
estate investment trust (REIT) with investments in suburban office
buildings and industrial properties concentrated in the western United
States. It is traded on the New York Stock Exchange and the Pacific
Exchange under the symbol "BED" and its web site is
www.bedfordproperty.com.
Please note: This press release contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934 that represent the company's current expectations
and beliefs. These forward-looking statements are subject to certain
risks and uncertainties that could cause the actual results,
performance or achievements to be materially different from those
expressed, expected or implied by the forward-looking statements. The
risks and uncertainties that could cause our actual results to differ
from management's estimates and expectations are contained in the
company's filings with the Securities and Exchange Commission,
including its 2004 Annual Report on Form 10-K and its most recent
Quarterly Report on Form 10-Q. The company does not undertake to
update forward-looking information contained herein or elsewhere to
reflect actual results, changes in assumptions or changes in other
factors affecting such forward-looking information.